CA23160 - Plant and Machinery Allowance (PMA): First Year Allowance (FYA): expenditure incurred by SMEs
CAA01/S44; FA04/S142; FA06/S30; FA07/S36
Capital expenditure incurred by a small or medium size enterprise (SME) normally qualifies for FYA at the 40% rate. There is an exception to this. Expenditure incurred by a small enterprise in:
- the years ended 31 March 2005, 31 March 2007 and 31 March 2008 (Corporation Tax),
- the years ended 5 April 2005, 5 April 2007 and 5 April 2008 (Income Tax),
qualifies for FYA at the 50% rate.