A michelin star restaurant has recently spent approximately £160k on plant and machinery and as such wishes to apply AIA as part of their CT claim.
The guidance manuals from HMRC clearly state that AIA is able to be claimed on most P&M assets purchased for use within the business except for the general exclusions (one of which is kitchen equipment).
Therefore, given that this is a restaurant and its business activity is to cook and serve food, the kitchen equipment is an asset used within the furtherance of its business operations, but it is still kitchen equipment mentioned (vaguely) in the general exclusions. Which is the overriding argument in this case??
Could they claim the AIA or are they stuck with WDAs at 18%?