Back to basics: Plant & machinery allowances - fixtures

Continuing our series of basic informative articles Steven Bone and Martin Wilson directors of The Capital Allowances Partnership Ltd explain plant and machinery capital allowances for fixtures

In a previous 'Back to Basics' article ('Plant & machinery allowances') we discussed the general conditions that a taxpayer must satisfy to claim plant and machinery capital allowances. One of these was that the taxpayer must own the plant or machinery as a result of incurring qualifying expenditure. For chattels this is normally straightforward. However for fixtures it can be complicated and this article provides an overview of this area. All statutory references below are to the Capital Allowances...