Section 45S | Expenditure on plant or machinery in other cases

Expenditure is first-year qualifying expenditure if—^F1

(a)it is incurred on or after 1 April 2023,^F1

(b)it is incurred by a company within the charge to corporation tax,^F1

(c)it is expenditure on plant or machinery which is unused and not second-hand, and^F1

(d)it is not excluded by section 45T (exclusion of expenditure under disqualifying arrangements) or 46 (general exclusions).^F1