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HMRC internal manual

Capital Allowances Manual

PMA: FYA: First-year tax credits: making or amending a claim for first-year tax credits

FA98/Sch 18 para 83ZA

A claim, or an amended claim, for first-year tax credits must be made in a company tax return or an amended return and the amount of the claim, or the amended claim, must be specified in the return. The time limits for claims for first-year tax credits are the same as those for capital allowances (CA11140).

A valid claim must also include the following information:

  • A list of the plant and machinery (P&M) that is first-year qualifying expenditure, that is, energy-saving or environmentally beneficial P&M that qualifies for a FYA.
  • The expenditure incurred on that P&M, and
  • The date on which the expenditure was incurred.

 

There are no specific boxes for this information on the company tax return but it may be provided as a schedule (as part of the corporation tax computation say). Sufficient detail must be provided in the list to enable HMRC to be satisfied that the P&M is qualifying, i.e. that it appears on one of the lists maintained by Defra (CA23135 and CA23140).

Where a relevant certificate of energy efficiency or environmental benefit is required before an FYA may be given, the certificate must also be sent to HMRC as part of the claim.