Section 45U | Expenditure on plant or machinery in cases not falling with section 45S etc

Expenditure is first-year qualifying expenditure if—^F1

(a)it is incurred on or after 1 January 2026,^F1

(b)it is not special rate expenditure,^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 45V (exclusion of expenditure under disqualifying arrangements) or 46 (general exclusions).^F1