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HMRC internal manual

Capital Allowances Manual

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HM Revenue & Customs
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Plant and Machinery Allowances (PMA): qualifying expenditure: plant or machinery acquired as a gift

CAA01/S14

Sometimes a person brings into use for the purposes of a qualifying activity plant or machinery that they received as a gift. When that happens treat the market value of the gift at the time that is brought into use for the purposes of the qualifying activity as the capital expenditure and treat the person as owning the gift as a result of incurring capital expenditure on it. This means that the market value of the gift is qualifying expenditure.