Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Plant and machinery definition

What does Plant and machinery mean? In legal practice, plant and machinery describes the equipment, apparatus and machines a business uses to carry on its trade, as distinct from the land or buildings in which it operates. The expression is used across multiple contexts and, for specific purposes, is informed by legislation and case law. For tax, what counts as plant and machinery determines entitlement to capital allowances (UK: Capital Allowances Act 2001; Ireland: Taxes Consolidation Act 1997), including treatment of fixtures and integral features. For non-domestic rating/valuation, regulatory lists identify which plant and machinery is rateable (with separate regulations in England and Wales, Scotland and Northern...

UK roll-over relief for business assets: conditions, qualifying assets, time limits and special cases including partial reinvestment, depreciating assets, deeming rules, non-residents and groups

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Practice notes

Roll-over relief for capital assets

This Practice Note explains roll-over relief for capital assets, a postponement of capital gains tax, or corporation tax on chargeable gains, available on certain disposals of business assets when the sale proceeds are reinvested into other business assets. When a business sells plant and machinery to obtain more modern equipment, or disposes of land and buildings in order to move to alternative premises, it may crystallise a chargeable capital gain (see Practice Note: What is a capital gain?). If traders in these circumstances faced an immediate tax liability, that could deter businesses from modernising, expanding or relocating. Hence the availability of roll-over relief for business assets. The underlying principle of the relief is that capital gains arising on business assets can remain untaxed so long as those gains are reinvested in other assets used within the business...

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Web page updated on 22/05/2026

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