Buying plant and machinery

1. [Qualifying activity](https://library.croneri.co.uk/po-heading-id_tyhlleOSEkWJZnr4U9XL6g)

1.1. Trade

1.2. Furnished holiday lettings - Spring Budget 2024 announcement: FHL to be abolished April 2025

1.3. Other

2. [Definition of plant and machinery](https://library.croneri.co.uk/po-heading-id_j6MfqNpmF0u1Ci9Z0uIIpw)

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

2.3.2. Not stock in trade

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

3. [Private use adjustment](https://library.croneri.co.uk/po-heading-id_F5KKLkFlIkGzRSw0o-WATA)

3.1. For unincorporated businesses

4. [Timing of expenditure](https://library.croneri.co.uk/po-heading-id_NlGApbDey0yJrc7egRwZ3w)

5. Types of allowance

5.1. [Annual Investment Allowance](https://library.croneri.co.uk/po-heading-id_KaR2ZjVK4U631kLeF0QXmQ)

5.1.1. 100% relief on £1m pa (corporation tax and income tax)

5.2. [First-year Allowance](https://library.croneri.co.uk/po-heading-id_to--W3qdJkytMlFotD25mw)

5.2.1. 100% relief on particular assets

5.2.2. Cars and vans: electric and zero emissions

5.3. FYAs

5.4. Writing down allowance

5.4.1. [Main pool](https://library.croneri.co.uk/po-heading-id_4LWzKPqCp0CkXNtEDzOP9g)

5.4.1.1. 18% WDA

5.4.2. [Special-rate pool](https://library.croneri.co.uk/po-heading-id_EZY4ZQoeAUGlHjPQwBV_GQ)

5.4.2.1. 6% WDA

5.4.3. Balancing allowance in certain circumstances only

5.4.4. Balancing charge in certain circumstances only

5.5. [Full-expensing and 50% SR allowance (expenditure 1 April 2023 onwards)](https://library.croneri.co.uk/po-heading-id_to--W3qdJkytMlFotD25mw#po-heading-id_EduYQ2Vgd0y1OuQ-ER-UTA)

5.5.1. 100% FYA in year expenditure incurred

5.5.2. Conditions apply, eg

5.5.3. Companies only

5.5.4. Incurred on or after 01/04/23 (now permanent - previous Mar 26 end-date now removed)

5.5.5. New main rate P&M

5.5.6. General exclusions apply, eg

5.5.6.1. Not cars

5.5.7. Balancing charge on disposal

5.5.8. Similar 50% FYA for special rate assets

5.6. [Super-deduction (not for expenditure 1 Apr 23 onwards)](https://library.croneri.co.uk/po-heading-id_to--W3qdJkytMlFotD25mw#po-heading-id_y7bnWY4ua06SBECeUPQKTw)

5.6.1. 130% FYA for new main rate P&M

5.6.2. But, had to be incurred before 01/04/23

5.6.3. Similar 50% FYA for special rate P&M

5.6.4. Period spans 01/04/23 (transitional rules - between 100% and 130% FYA)

5.6.5. Disposal

5.6.5.1. Balancing charge equal to proceeds x up to 1.3 (transitional rules where disposal period spanned 1 April 23)