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Capital Allowances Act 2001
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Changes over time for: Section 52
Version Superseded: 10/07/2003
Alternative versions:
- 22/03/2001- Amendment
- 11/05/2001- Amendment
- 24/07/2002- Amendment
- 24/07/2002
Point in time - 10/07/2003- Amendment
- 22/07/2004- Amendment
- 19/07/2006- Amendment
- 19/07/2007- Amendment
- 21/07/2008- Amendment
- 21/07/2009- Amendment
- 16/12/2010- Amendment
- 17/07/2012- Amendment
- 16/11/2017- Amendment
- 12/02/2019- Amendment
- 10/06/2021- Amendment
- 11/07/2023- Amendment
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52 First-year allowancesU.K.
This section has no associated Explanatory Notes
(1)A person is entitled to a first-year allowance in respect of first-year qualifying expenditure if—
(a)the expenditure is incurred in a chargeable period to which this Act applies, and
(b)the person owns the plant or machinery at some time during that chargeable period.
(2)Any first-year allowance is made for the chargeable period in which the first-year qualifying expenditure is incurred.
(3)The amount of the allowance is a percentage of the first-year qualifying expenditure in respect of which the allowance is made, as shown in the Table—
Table
Amount of first-year allowances
| Type of first-year qualifying expenditure | Amount |
|---|---|
| Expenditure qualifying under section 40 (expenditure incurred for Northern Ireland purposes by small or medium-sized enterprises) | 100% |
| Expenditure qualifying under section 44 (expenditure incurred by small or medium-sized enterprises) | 40% |
| Expenditure qualifying under section 45 (ICT expenditure incurred by small enterprises) | 100% |
| [F1Expenditure qualifying under section 45A (expenditure on energy-saving plant or machinery | 100%F1] |
| [F2Expenditure qualifying under section 45D (expenditure on cars with low CO2 emissions) | 100%F2] |
| [F3Expenditure qualifying under section 45E (expenditure on plant or machinery for gas refuelling station) | 100%F3] |
| [F4Expenditure qualifying under section 45F (expenditure on plant and machinery for use wholly in a ring fence trade) which is long-life asset expenditure | 24% |
| Expenditure qualifying under section 45F (expenditure on plant and machinery for use wholly in a ring fence trade) other than long-life asset expenditure | 100%F4] |
(4)A person who is entitled to a first-year allowance may claim the allowance in respect of the whole or a part of the first-year qualifying expenditure.
(5)Subsection (1) needs to be read with section 236 (first-year allowances in respect of additional VAT liabilities) and is subject to—
section 205 (reduction of first-year allowance if plant or machinery provided partly for purposes other than those of qualifying activity),
section 210 (reduction of first-year allowance if it appears that a partial depreciation subsidy is or will be payable), and
sections 217, 223 and 241 (anti-avoidance: no first-year allowance in certain cases).
Textual Amendments
F1S. 52(3): words in Table added (with effect as mentioned in s. 65 of the amending Act) by Finance Act 2001 (c. 9), s. 65, Sch. 17 para. 4
F2S. 52(3): words in Table added (with effect as mentioned in s. 59 of the amending Act) by Finance Act 2002 (c. 23), s. 59, Sch. 19 para. 5
F3S. 52(3): words in Table added (with effect as mentioned in s. 61 of the amending Act) by Finance Act 2002 (c. 23), s. 61, Sch. 20 para. 5
F4S. 52(3): words in Table added (with effect as mentioned in s. 63 of the amending Act) by Finance Act 2002 (c. 23), s. 63, Sch. 21 para. 6
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