B
Unless there has been a change in the legislation, there would be no problem with buying art, which would be for use wholly and exclusively for the promotion of one's business, having it treated as fixtures & fittings and writing its cost off over 8 years against Income tax.
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A separate issue worth considering here is that you propose to display the item in your home office. There could potentially be implications for the validity of PPR relief, if you start representing to Revenue that part of your house is used wholly and exclusively for business purposes...
Whether it is wholly and exclusively for business purposes is irrelevant as capital expenditure is specifically excluded from that definition.
To qualify for capital allowances it must be either plant or machinery. It's clearly not machinery and plant is not defined in the legislation. To determine whether or not it is plant you need to consider if it is part of the appartus for carrying on the business, or part of the setting in which the business is carried on. I would think the latter.
Good point about the PPR relief, especially as OP stated that it is "very much a work environment".
Forgot to mention, artwork could never qualify for capital allowances.
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