Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what the criteria are for plant and machinery to qualify for capital allowances full expensing.

Full expensing is available for qualifying expenditure on main rate plant or machinery incurred on or after 1 April 2023, but before 1 April 2026. To qualify for full expensing, expenditure must be incurred by a company within the charge to corporation tax, the plant and machinery must be new and must not be bought to lease to someone else. Further information on gov.uk - https://www.gov.uk/government/publications/full-expensing/spring-budget-2023-full-expensing. Full HMRC guidance will be published in due course.