9 Super-deductions and other temporary first-year allowances
Finance Act 2021 (2021 c 26) | Legislation

Capital allowances: super-deductions etc

9  Super-deductions and other temporary first-year allowances

(1)     Part 2 of CAA 2001 has effect as if—

(a)     in section 39 (first-year allowances available for certain types of qualifying expenditure only) a reference to this section were included in the list of provisions describing first-year qualifying expenditure, and

(b)     in the Table in section 52(3) (amount of first-year allowances), at the end there were inserted—

“Expenditure qualifying under section 9(2) of FA 2021130%
Expenditure qualifying under section 9(3) of that Act50%
Expenditure qualifying under section 9(4) of that Act100%”

(2)     Expenditure is qualifying under this subsection if—

(a)     it is incurred on or after 1 April 2021 but before 1 April 2023,

(b)     it is incurred by a company within the charge to corporation tax,

(c)     it is expenditure on plant or machinery which is unused and not second-hand,

(d)     it is not within any of the general exclusions in section 46(2) of CAA 2001,

(e)     it is not special rate expenditure, and

(f)     it is not expenditure on the provision

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