Plant and Machinery Allowances (PMA): qualifying expenditure: general rule
Expenditure on which PMAs are given is called qualifying expenditure.
These are the conditions that must be satisfied for expenditure to be qualifying expenditure for PMAs:
- The expenditure is capital expenditure on the provision of plant or machinery wholly or partly for the purposes of a qualifying activity that the person incurring the expenditure carries on.
- The person incurring the expenditure owns the plant or machinery as a result of incurring the expenditure.