Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Capital Allowances Manual

From
HM Revenue & Customs
Updated
, see all updates

Plant and Machinery Allowances (PMA): qualifying expenditure: expenditure incurred before qualifying activity begins

CAA01/S12

Treat expenditure incurred before a qualifying activity begins as incurred on the first day that the person who incurred the expenditure carries on the qualifying activity.

 

Example

Jubane and Gostelow decide to go into business as undertakers. They buy a hearse on 1 October 2010 and start the business on 1 January 2011. Treat them as incurring the expenditure on the hearse on 1 January 2011.