The Finance Act 1994 ‐ machinery and plant allowances Available to Purchase

Considers the implications of the Finance Act 1994, sections 117 and 118, on claims for machinery and plant allowances. Examines the changes that have been introduced by the new rules, the reasons for introducing them, the effect they will have on levels of allowances and the opportunities which present themselves to maximize claims. Also considers whether the Inland Revenue will achieve their stated goal to “clarify the boundary” and “protect the Exchequer”.