The Capital Allowances Act 2001 (Amendment of Section 45K) Order 2020

Section 45K of the Capital Allowances Act 2001 provides for 100 per cent first-year capital allowances for companies investing in plant or machinery for use primarily in designated assisted areas. To qualify for this relief the expenditure must be incurred at a time when an area is (or is treated as) designated under subsection (2)(a), and must be incurred in the period specified in subsection (1)(b), of the section.