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Plant & Machinery Allowances

Continuing our series of basic informative articles Steven Bone and Martin Wilson partners in The Capital Allowances Partnership outline the most often claimed capital allowance: plant & machinery allowances
Plant and machinery allowances (PMAs) allow taxpayers to write off for tax purposes expenditure on business apparatus (called 'plant' and 'machinery' — P&M). They have been with us in one form or another since the 19th century and are by far the most commonly claimed type of capital allowance. This article is the first in a series of three on the subject and will cover basic principles. Unless stated all statutory references below are to the Capital Allowances Act 2001.
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