SCHEDULE 11 Expenditure on Plant and Machinery for Use in Designated Assisted Areas
Finance Act 2012 (2012 c 14) | Legislation

SCHEDULE 11 Expenditure on Plant and Machinery for Use in Designated Assisted Areas

Section 44

1

CAA 2001 is amended as follows.

2

In section 39 (first-year allowances available for certain types of qualifying expenditure only), at the appropriate place in the list insert—

“section 45Kexpenditure on plant and machinery for use in designated assisted areas.â€

3

After section 45J insert—

“45K Expenditure on plant and machinery for use in designated assisted areas

(1)     Expenditure is first-year qualifying expenditure if—

(a)     it is incurred by a company on the provision of plant or machinery for use primarily in an area which at the time the expenditure is incurred is a designated assisted area,

(b)     it is incurred in the period of 5 years beginning with 1 April 2012,

(c)     Conditions A to E are met.

(2)     “Designated assisted area†means an area which—

(a)     is designated by an order made by the Treasury, and

(b)     falls wholly within an assisted area.

(3)     An area may be designated by an order under subsection (2)(a) only if at the time the order is made—

(a)     the area falls wholly within an enterprise zone, and

(b)

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