Buying plant and machinery

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Buying plant and machinery by Mind Map: Buying plant and machinery

1. Qualifying activity

1.1. Trade

1.2. Furnished holiday lettings

1.3. Other

2. Definition of plant and machinery

2.1. No statutory definition

2.2. Lists of assets that cannot be plant and machinery

2.2.1. Buildings

2.2.2. Structures

2.3. Case law

2.3.1. Used for carrying on the business

2.3.1.1. Not stock in trade

2.3.1.2. Not the business premises or part of the business premises

3. Types of allowance

3.1. Annual investment allowance

3.1.1. 100% relief on £200,000

3.2. First-year allowance

3.2.1. 100% relief on particular assets

3.3. Writing down allowance

3.3.1. 18% on main rate pool

3.3.2. 8% on special rate pool

3.4. Balancing allowance

3.5. Balancing charge

4. Private use adjustment

4.1. For unincorporated businesses

5. Timing of expenditure

6. Pooling of assets