Part 1 Plant and Machinery
Finance Act 2002 (2002 c 23) | Legislation

SCHEDULE 21 First-Year Allowances for Expenditure Wholly for a Ring Fence Trade

Section 63

Part 1 Plant and Machinery

Introductory

1

Part 2 of the Capital Allowances Act 2001 (c 2) (plant and machinery allowances) is amended as follows.

Types of expenditure for which first-year allowances available

2

In section 39, after the entry relating to section 45E (which is added by Schedule 20 to this Act) add

“, or
section 45Fexpenditure on plant and machinery for use wholly in a ring fence trade.â€.
First-year qualifying expenditure: plant and machinery for use wholly in a ring fence trade

3

After section 45E (which is inserted by Schedule 20 to this Act) insert—

“45¹ó
Expenditure on plant and machinery for use wholly in a ring fence trade

(1)     Expenditure is first-year qualifying expenditure if—

(a)     it is incurred on or after 17th April 2002,

(b)     it is incurred by a company,

(c)     it is incurred on

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