[45M Exclusions from allowances under section 45K]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[45M  Exclusions from allowances under section 45K]

[(1)     Expenditure incurred by a person is not first-year qualifying expenditure under section 45K if it is within subsection (2), (4), [(7) or (7A)].

(2)     Expenditure is within this subsection if, at the time a claim is made under section 3 for a section 45K allowance in respect of the expenditure, the person who incurred the expenditure is, or forms part of, an undertaking within subsection (3).

(3)     An undertaking is within this subsection if one or both of the following conditions are met—

(a)     it is reasonable to assume that the undertaking would be regarded as [an undertaking in difficulty for the purposes of the General Block Exemption Regulation];

(b)     the undertaking is subject to an outstanding recovery order made by virtue of Article 108(2) of the Treaty on the Functioning of the European Union (Commission Decision declaring aid illegal and incompatible with the common market).

(4)     Expenditure is within this subsection if it is incurred for the purposes of a qualifying activity—

(a)     in the fishery or aquaculture sector, as covered by [Regulation (EU) No 1379/2013 of the European Parliament and of the Council],

(b)     in the coal sector, steel sector, shipbuilding

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