½Û×ÓÊÓƵ

100% first-year allowances are available to companies incurring expenditure on plant or machinery which is primarily for use in an area which, at the time the expenditure is incurred, is a designated assisted area in an enterprise zone. Originally, the expenditure had to be incurred within eight years of the date on which the area is (or is treated as) designated but this was extended so that the allowance remains available for expenditure incurred in relation to all designated assisted areas, whenever designated, until at least 31 March 2021. In addition, the following five conditions A to E need to be met¹:

1. Ìý

   (A)ÌýÌýÌýÌý The company must be within the charge to corporation tax²

2. Ìý

   (B)ÌýÌýÌýÌý The expenditure must be incurred for the purposes of a trade, or a concern within ITTOIA 2005, s 12(4) or CTA 2009, s 39(4) (mines, quarries etc (see B5.651))³

3. Ìý

   (C)ÌýÌýÌýÌý The expenditure must be incurred for the purposes of either⁴:

4. 1. Ìý

      (i)ÌýÌýÌýÌý a new business carried on by the company

   2. Ìý

      (ii)