B3.355 Plant and machinery allowances on fixtures—general
The general rule is that capital allowances for plant and machinery are made to a person if the assets in question are owned by him, or have at any time been owned by him1. Special rules2 apply, however, to fixtures, ie assets which are installed in or fixed to a building or land so as to become part of that building or land in law. In specified circumstances, such fixtures are deemed to be owned by a person other than the person who actually owns them in law (see B3.356) and allowances may be claimed accordingly.
The special rules described here take precedence over those relating to hire purchase (see B3.340A).
The entitlement3 to capital allowances of a person who, in certain circumstances, makes a capital contribution to the provision of machinery or plant is not displaced by these provisions4.
Where the plant or machinery is subject to a long funding lease (see B3.340Y), this legislation does not apply5.