B3.320 Introduction—plant and machinery allowances first-year qualifying expenditure
A taxpayer can claim a 100% first-year allowance (unless otherwise stated) in respect of qualifying expenditure if it falls within any of the categories listed below (ie it is 'first-year qualifying expenditure')1.
| Type of expenditure | Date expenditure incurred |
| Qualifying new main rate plant and machinery (at 100%), which is described by HMRC as 'full expensing', and special rate assets (at 50%) (companies only) B3.321 | From 1 April 2023 |
| Energy-saving plant and machinery. See B3.3242. | From 1 April 2001–6 April 2020 (1 April 2020 for corporation tax purposes) |
| Plant and machinery for use in a ring-fence trade. See B3.324C3. | From 17 April 2002 |
| Cars |
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