The measure clarifies that only capital expenditure incurred on alterations to land necessary to install plant or machinery is eligible for plant and machinery allowances. Expenditure on other alternations to land is confirmed to be not eligible.
Businesses that claim capital allowances on the cost of altering land for the purposes of installing plant or machinery.
The measure will have effect for capital allowances claims on or after 29 October 2018.
The impact of this measure is to restrict new claims following a recent tax case and is unlikely to have a broad application.