74. Scope of capital allowances.

Allowances are made on capital expenditure1 incurred2 in any chargeable period3 on:

  1.  

    (1)     plant and machinery4, in particular:

    1.  

      (a)     computer software5;

    2.  

      (b)     short-life assets6;

    3.  

      (c)     long-life assets7;

    4.  

      (d)     assets used in overseas leasing8;

    5.  

      (e)     ships9;

    6.  

      (f)     assets used in the mining and oil industries10; and

    7.  

      (g)     fixtures11;

  2.  

    (2)     renovation of business premises12;

  3.  

    (3)     mineral extraction13;

  4.  

    (4)     research and development14;

  5.  

    (5)     know-how15;

  6.  

    (6)     patents16;

  7.  

    (7)     dredging17;

  8.  

    (8)     assured tenancies18; and

  9.  

    (9)     land comprising cemeteries or crematoria19.

In the Corporation Tax Acts20 and the Income Tax Acts21 except in so far as the context otherwise requires, 'capital allowance' means any allowance under