Plant and Machinery Allowances (PMA): introduction: qualifying activities
In order to qualify for PMA, a taxpayer must incur capital expenditure on the provision of plant or machinery wholly or partly for the purposes of a qualifying activity carried on by the taxpayer.
The qualifying activities for PMA are:
- an ordinary UK property business;
- a UK furnished holiday letting business;
- an ordinary overseas property business;
- an EEA furnished holiday lettings business
- profession or vocation;
- mine, quarry or canal or other concern giving rise to profits from land charged to tax as a trade under ITTOIA/S12 (4) or S39 (4) CTA 2009
- management of an investment company;
- special leasing business;
- employment or office.