HM Revenue and Customs Brief 03/13
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Plant and Machinery Allowances - second-hand
This Brief seeks comments on new guidance on Plant and
Machinery Allowances (PMA) in respect of qualifying expenditure on
Any comments on this draft guidance should be made to HM
Revenue & Customs (HMRC) by 15 May 2013. Contact details are
included at the end of this Brief. HMRC aims to publish this guidance
in the Capital Allowances Manual as soon as possible after any comments
received have been considered.
Legislation was introduced in Finance Bill 2012 to make the
availability of capital allowances to a purchaser of second-hand
fixtures conditional on the pooling of relevant expenditure prior to a
transfer, and on the seller and purchaser formally agreeing a value for
fixtures within two years of a transfer, or on formal proceedings to
agree the value being commenced within that time.
This Brief sets out draft guidance on this new legislation.
The proposed text of this guidance is in the document below.
- PMA: Fixtures: Changes in ownership: Introduction and Commencement
How to comment
Comments on this draft guidance may be sent to:
100 Parliament Street
By phone: 020 7147 2610
About the Author
© Crown Copyright 2013.
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permission of HM Revenue & Customs.
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Article Published/Sorted/Amended on Scopulus 2013-03-19 10:56:12 in Tax Articles