Section 11 | General conditions as to availability of plant and machinery allowances

(1)Allowances are available under this Part if a person carries on a qualifying activity and incurs qualifying expenditure.

(2)“Qualifying activity” has the meaning given by Chapter 2.

(3)Allowances under this Part must be calculated separately for each qualifying activity which a person carries on.

(4)The general rule is that expenditure is qualifying expenditure if—

(a)it is capital expenditure on the provision of plant or machinery wholly or partly for the purposes of the qualifying activity carried on by the person incurring the expenditure, and

(b)the person incurring the expenditure owns the plant or machinery as a result of incurring it.

(5)But the general rule is affected by other provisions of this Act, and in particular by Chapter 3.