OpenLegislation

Capital Allowances Act 2001

2001 c. 2 · Enacted 22 March 2001 · Extends to United Kingdom

Not fully up to date. 8 changes made by later legislation have not yet been written into this text, which is revised to 1 May 2026.

See the changes not yet applied
ProvisionChangeMade by
s. 436(2)(aa)insertedPlanning (Consequential Provisions) (Wales) Act 2026 Sch. 2 para. 329(b)
s. 436(2)(a)words omittedPlanning (Consequential Provisions) (Wales) Act 2026 Sch. 2 para. 329(a)
s. 268D(2)(a)repealedThe Welfare Reform (Northern Ireland) Order 2015 Sch. 12 Pt. 8
s. 268D(2)(a)(i)repealedWelfare Reform Act 2012 Sch. 14 Pt. 9
Sch. A1 para. 17(1)(b)word insertedWelfare Reform Act 2012 Sch. 3 para. 14
Sch. A1 para. 17(1)(a)words repealedWelfare Reform Act 2012 Sch. 14 Pt. 1
Sch. A1 para. 17(1)(b)words repealedWelfare Reform Act 2012 Sch. 14 Pt. 1
s. 201(6)words insertedFinance (No. 2) Act 2017 Sch. 14 para. 33
An Act to restate, with minor changes, certain enactments relating to capital allowances.22nd March 2001

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—C1Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—C2C3Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—C4Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—C5C6C7C8C9C10C11C12C13C14C15C16C17C18C19C20C21

Annotations to the whole text

Modifications

C1

Act construed as one with Capital Allowances Act 2001 (c. 2) (5.10.2004) by Energy Act 2004 (c. 20), s. 198(2), Sch. 9 para. 37(4) (with s. 38(2)); S.I. 2004/2575, art. 2(1), Sch. 1

C2

Act applied (5.10.2004) by Energy Act 2004 (c. 20), s. 198(2), Sch. 9 para. 7 (with s. 38(2)); S.I. 2004/2575, art. 2(1), Sch. 1

C3

2005 c. 14, Sch. 10 construed as one with 2001 c. 2 (E.W.S.) (8.6.2005 for specified purposes, 24.7.2005 in so far as not already in force) by Railways Act 2005 (c. 14), s. 60(2), Sch. 10 para. 34(3); S.I. 2005/1444, art. 2(1), Sch. 1; S.I. 2005/1909, art. 2, Sch.

C4

Act modified (E.W.S.) (8.6.2005) by Railways Act 2005 (c. 14), s. 60(2), Sch. 10 paras. 12-14; S.I. 2005/1444, art. 2(1), Sch. 1

C5

Act modified by SI 2006/964 reg. 69V(6)(7) (as inserted (6.4.2008) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2008 (S.I. 2008/705), regs. 1, 5)

C6

Act modified by SI 2006/964 reg. 69Z41(5)(6) (as inserted (6.4.2008) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2008 (S.I. 2008/705), regs. 1, 5)

C7

Act modified (21.7.2008) by Finance Act 2008 (c. 9), s. 85(8)

C8

Crossrail Act 2008 (c. 18), Sch. 13 construed as one with this Act (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 3(5)

C9

Act modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 27(2)

C10

Act modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 9(2)

C11

Act modified (with effect in accordance with reg. 1(2) of the amending S.I.) by The Friendly Societies (Transfers of Other Business) (Modification of the Corporation Tax Acts) Regulations 2008 (S.I. 2008/1942), regs. 2, 8

C12

Act extended in part (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 184 (with Sch. 2)

C13

Act modified (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 948(1)-(4) (with Sch. 2)

C14

Act modified (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 954(2)-(5) (with Sch. 2)

C15

Act modified (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 955(2)-(6) (with Sch. 2)

C16

Act applied (with modifications) by 2005 c. 5 s. 825A (as substituted (with effect in accordance with s. 3(4) of the amending Act) by Finance (No. 3) Act 2010 (c. 33), s. 3(3) (with s. 3(5)))

C17

Act modified (7.8.2015) by The Housing and Regeneration Transfer Schemes (Tax Consequences) Regulations 2015 (S.I. 2015/1540), reg. 7(2)-(7) (with regs. 3, 7(1)(9))

C18

Act modified (7.8.2015) by The Housing and Regeneration Transfer Schemes (Tax Consequences) Regulations 2015 (S.I. 2015/1540), reg. 8(4)(a) (with regs. 3, 8(1)(6))

C19

Act modified (7.8.2015) by The Housing and Regeneration Transfer Schemes (Tax Consequences) Regulations 2015 (S.I. 2015/1540), reg. 8(5) (with regs. 3, 8(1)(6))

C20

Act: power to amend conferred (12.2.2019) by Finance Act 2019 (c. 1), s. 30(1)

C21

Act excluded (20.3.2025) by Finance Act 2025 (c. 8), Sch. 3 paras. 4, 6

Contents

  1. Part 1: Introduction
  2. Chapter 1: Capital allowances: general
  3. 1Capital allowances
  4. 1ACapital allowances and charges: cash basis
  5. 2General means of giving effect to capital allowances
  6. 3Claims for capital allowances
  7. 4Capital expenditure
  8. 5When capital expenditure is incurred
  9. 6Meaning of “chargeable period”
  10. Chapter 1A: Trades attracting Northern Ireland rate of corporation tax
  11. 6A“NIRE company” and “SME (Northern Ireland employer) company”
  12. 6B“Northern Ireland firm” etc
  13. 6C“NI rate activity”
  14. 6DNI rate activity treated as separate trade
  15. 6EGiving effect to allowances and charges: NI rate activity cases
  16. Chapter 2: Exclusion of double relief
  17. 7No double allowances
  18. 8No double relief through pooling under Part 2 (plant and machinery allowances)
  19. 9Interaction between fixtures claims and other claims
  20. 10Interpretation
  21. Part 2: Plant and machinery allowances
  22. Chapter 1: Introduction
  23. 11General conditions as to availability of plant and machinery allowances
  24. 12Expenditure incurred before qualifying activity carried on
  25. 13Use for qualifying activity of plant or machinery provided for other purposes
  26. 13AUse for other purposes of plant or machinery previously used for long funding leasing
  27. 13BUse for other purposes of plant or machinery: property businesses Repealed
  28. 14Use for qualifying activity of plant or machinery which is a gift
  29. Chapter 2: Qualifying activities
  30. 15Qualifying activities
  31. 16Ordinary UK property businesses Repealed
  32. 17UK furnished holiday lettings businesses Repealed
  33. 17AOrdinary overseas property business Repealed
  34. 17BEEA furnished holiday lettings businesses Repealed
  35. 18Managing the investments of a company with investment business
  36. 19Special leasing of plant or machinery
  37. 20Employments and offices
  38. Chapter 3: Qualifying expenditure
  39. Buildings, structures and land
  40. 21Buildings
  41. 22Structures, assets and works
  42. 23Expenditure unaffected by sections 21 and 22
  43. 24Interests in land
  44. 25Building alterations connected with installation of plant or machinery
  45. Demolition costs
  46. 26Demolition costs
  47. Expenditure on thermal insulation and personal security
  48. 27Application of Part to thermal insulation and personal security
  49. 28Thermal insulation of ... buildings
  50. 29Fire safety Repealed
  51. 30Safety at designated sports grounds Repealed
  52. 31Safety at regulated stands at sports grounds Repealed
  53. 32Safety at other sports grounds Repealed
  54. 33Personal security
  55. Expenditure on integral features
  56. 33AExpenditure on provision or replacement of integral features
  57. 33BMeaning of “replacement” in section 33A
  58. Exclusion of certain types of expenditure
  59. 34Expenditure by MPs and others on accommodation
  60. 34AExpenditure on plant or machinery for long funding leasing not qualifying expenditure
  61. 35Expenditure on plant or machinery for use in dwelling-house not qualifying expenditure in certain cases
  62. 36Restriction on qualifying expenditure in case of employment or office
  63. 37Exclusion where sums payable in respect of depreciation
  64. 38Production animals etc.
  65. 38ZAVehicles for which deductions allowed at fixed rate under Part 2 of ITTOIA 2005
  66. Chapter 3A: AIA qualifying expenditure
  67. 38AAIA qualifying expenditure
  68. 38BGeneral exclusions applying to section 38A
  69. Chapter 4: First-year qualifying expenditure
  70. General
  71. 39First-year allowances available for certain types of qualifying expenditure only
  72. Types of expenditure which may qualify for first-year allowances
  73. 40Expenditure incurred for Northern Ireland purposes by small or medium-sized enterprises Repealed
  74. 41Miscellaneous exclusions from section 40 (expenditure for Northern Ireland purposes etc.) Repealed
  75. 42Exclusion of plant or machinery partly for use outside Northern Ireland Repealed
  76. 43Effect of plant or machinery subsequently being primarily for use outside Northern Ireland Repealed
  77. 44Expenditure incurred by small or medium-sized enterprises Repealed
  78. 45ICT expenditure incurred by small enterprises Repealed
  79. 45AExpenditure on energy-saving plant or machinery Repealed
  80. 45AASection 45A exclusion: feed-in tariffs and renewable heat incentives Repealed
  81. 45BCertification of energy-saving plant and machinery Repealed
  82. 45CEnergy-saving components of plant or machinery Repealed
  83. 45DExpenditure on cars with low carbon dioxide emissions
  84. 45DAExpenditure on zero-emission goods vehicles
  85. 45DBExclusions from allowances under section 45DA
  86. 45EExpenditure on plant or machinery for gas refuelling station
  87. 45EAExpenditure on plant or machinery for electric vehicle charging point
  88. 45FExpenditure on plant and machinery for use wholly in a ring fence trade
  89. 45GPlant or machinery used for less than five years in a ring fence trade
  90. 45HExpenditure on environmentally beneficial plant or machinery Repealed
  91. 45ICertification of environmentally beneficial plant and machinery Repealed
  92. 45JEnvironmentally beneficial components of plant or machinery Repealed
  93. 45KExpenditure on plant and machinery for use in designated assisted areas
  94. 45LExclusion of plant or machinery partly for use outside designated assisted areas
  95. 45MExclusions from allowances under section 45K
  96. 45NEffect of plant or machinery subsequently being primarily for use outside designated assisted areas
  97. 45OExpenditure on plant and machinery for use in special tax sites
  98. 45PPower to amend conditions
  99. 45QExclusion of plant or machinery partly for use outside special tax sites
  100. 45REffect of failing to comply with ongoing requirements
  101. 45SExpenditure on plant or machinery in other cases
  102. 45TExclusion of expenditure incurred under disqualifying arrangements
  103. 45UExpenditure on plant or machinery in cases not falling with section 45S etc
  104. 45VExclusion of expenditure incurred under disqualifying arrangements
  105. 46General exclusions ...
  106. Expenditure of small or medium-sized enterprises
  107. 47Expenditure of small or medium-sized enterprises: companies Repealed
  108. 48Expenditure of small or medium-sized enterprises: businesses Repealed
  109. 49Whether company is a member of a large or medium-sized group Repealed
  110. Supplementary
  111. 50Time when expenditure is incurred
  112. 51Disclosure of information between UK tax authorities Repealed
  113. Chapter 5: Allowances and charges
  114. Annual investment allowance
  115. 51AEntitlement to annual investment allowance
  116. 51BFirst restriction: companies
  117. 51CSecond restriction: groups of companies
  118. 51DThird restriction: groups of companies under common control
  119. 51EFourth restriction: other companies under common control
  120. 51FCompanies and groups: meaning of “control”
  121. 51GCompanies and groups: meaning of “related”
  122. 51HFifth restriction: qualifying activities under common control
  123. 51IQualifying activities: meaning of control
  124. 51JQualifying activity: meaning of “related”
  125. 51JASixth restriction: allocation where profits chargeable at NI rate
  126. 51KOperation of annual investment allowance where restrictions apply
  127. 51LSpecial provision for short chargeable periods
  128. 51MSpecial provision for long chargeable periods
  129. 51NSpecial provision for long chargeable periods: supplementary
  130. First-year allowances
  131. 52First-year allowances
  132. Prevention of double relief
  133. 52APrevention of double relief
  134. Pooling
  135. 53Pooling of qualifying expenditure
  136. 54The different kinds of pools
  137. Writing-down and balancing allowances and balancing charges
  138. 55Determination of entitlement or liability
  139. 56Amount of allowances and charges
  140. 56AWriting-down allowances for small pools
  141. Available qualifying expenditure
  142. 57Available qualifying expenditure
  143. 58Initial allocation of qualifying expenditure to pools
  144. 59Unrelieved qualifying expenditure
  145. Special balancing charge in cases of full expensing etc
  146. 59ADisposal of assets where first-year allowance made under section 45S for expenditure which is not special rate expenditure
  147. 59BDisposal of assets where first-year allowance made under section 45S for expenditure which is special rate expenditure
  148. 59CSections 59A and 59B: tax avoidance arrangements
  149. Disposal events and disposal values: general
  150. 60Meaning of “disposal receipt” and “disposal event”
  151. 61Disposal events and disposal values
  152. 62General limit on amount of disposal value
  153. 62ACases in which disposal value is transition value
  154. 63Cases in which disposal value is nil
  155. 64Case in which no disposal value need be brought into account
  156. 64ALeased assets: arrangements reducing disposal value of asset
  157. The final chargeable period
  158. 65The final chargeable period
  159. List of provisions outside this Chapter about disposal values
  160. 66List of provisions outside this Chapter about disposal values
  161. Application of Chapter to person leaving cash basis
  162. 66APersons leaving cash basis
  163. Effect of changes in Northern Ireland status of SME company or SME partnership
  164. 66BSME company entering NI corporation tax regime
  165. 66CSME partnership entering NI corporation tax regime
  166. 66DSME company leaving NI corporation tax regime
  167. 66ESME partnership leaving NI corporation tax regime
  168. Chapter 6: Hire-purchase etc. and plant or machinery provided by lessee
  169. Hire-purchase and similar contracts
  170. 67Plant or machinery treated as owned by person entitled to benefit of contract, etc.
  171. 68Disposal value on cessation of notional ownership
  172. 69Hire-purchase etc. and fixtures
  173. Plant or machinery provided by lessee
  174. 70Plant or machinery provided by lessee
  175. Lessees under long funding leases
  176. 70AEntitlement to capital allowances
  177. 70BLong funding operating lease: amount of capital expenditure
  178. 70CLong funding finance lease: amount of capital expenditure
  179. 70DLong funding finance lease: additional expenditure: allowances for lessee
  180. 70DATransfer and long funding leaseback: restrictions on lessee's allowances
  181. 70EDisposal events and disposal values
  182. Chapter 6A: Interpretation of provisions about long funding leases
  183. Introductory
  184. 70FIntroductory
  185. Meaning of “long funding lease” etc
  186. 70G“Long funding lease”
  187. 70HLessee: requirement for tax return treating lease as long funding lease
  188. 70I“Short lease”
  189. 70J“Funding lease”
  190. Meaning of “plant or machinery lease”
  191. 70K“Plant or machinery lease”
  192. 70LPlant or machinery leased with other assets: separate derived leases
  193. 70MDerived leases of plant or machinery: term and rentals
  194. The tests for being a funding lease
  195. 70NThe finance lease test
  196. 70OThe lease payments test
  197. 70PThe useful economic life test
  198. Leases excluded by right of lessor etc to claim capital allowances
  199. 70QLeases excluded by right of lessor etc to claim capital allowances
  200. Excluded leases of background plant or machinery for a building
  201. 70RExcluded leases of background plant or machinery for a building
  202. 70SThe disqualifications
  203. 70TOrders relating to background plant or machinery for a building
  204. Exclusion for certain plant or machinery leased with land
  205. 70UPlant or machinery leased with land: low percentage value
  206. Avoidance
  207. 70VTax avoidance involving international leasing
  208. Transfers, assignments, novations, leaseback, variations etc
  209. 70WTransfers, assignments etc by lessor
  210. 70XTransfers, assignments etc by lessee
  211. 70YSale and leaseback, lease and leaseback etc: lessors
  212. 70YAChange in accountancy classification of long funding lease
  213. 70YBLong funding operating lease: extension of term of lease
  214. 70YCExtension of term of lease that is not a long funding lease
  215. 70YDIncrease in proportion of residual amount guaranteed: review of status
  216. Interpretation
  217. 70YE“Minimum lease payments”
  218. 70YFThe “term” of a lease
  219. 70YG“Termination amount”
  220. 70YH“Termination value”
  221. 70YIGeneral definitions
  222. 70YJPower to vary the meaning of certain expressions
  223. Chapter 7: Computer software
  224. 71Software and rights to software
  225. 72Disposal values
  226. 73Limit on disposal values
  227. Chapter 8: Cars, etc.
  228. Cars above the cost threshold
  229. 74Single asset pool Repealed
  230. 75General limit on amount of writing-down allowance Repealed
  231. 76Limit where part of expenditure met by another person Repealed
  232. 77Car used partly for purposes other than those of qualifying activity Repealed
  233. 78Effect of partial depreciation subsidy Repealed
  234. 79Cases where Chapter 17 (anti-avoidance) applies Repealed
  235. Vehicles provided for purposes of employment or office
  236. 80Vehicles provided for purposes of employment or office Repealed
  237. Interpretation
  238. 81Extended meaning of “car” Repealed
  239. 82Qualifying hire cars Repealed
  240. Chapter 9: Short-life assets
  241. 83Meaning of “short-life asset”
  242. 84Cases in which short-life asset treatment is ruled out
  243. 85Election for short-life asset treatment: procedure
  244. 86Short-life asset pool
  245. 87Short-life assets provided for leasing
  246. 88Sales at under-value
  247. 89Disposal to connected person
  248. Chapter 10: Long-life assets
  249. Long-life asset expenditure
  250. 90Long-life asset expenditure
  251. 91Meaning of “long-life asset”
  252. 92Application of Chapter to part of expenditure Repealed
  253. Expenditure excluded from being long-life asset expenditure
  254. 93Fixtures etc.
  255. 94Ships
  256. 95Railway assets
  257. 96Cars
  258. 97Expenditure within the relevant monetary limit: general
  259. 98Expenditure to which the monetary limits apply
  260. 99The monetary limit
  261. 100Exceeding the monetary limit
  262. Rules applying to long-life asset expenditure
  263. 101Allocation of long-life asset expenditure to pool
  264. 102Writing-down allowance in respect of long-life asset expenditure
  265. Anti-avoidance provisions
  266. 103Later claims
  267. 104Disposal value of long-life assets Repealed
  268. Chapter 10A: Special rate expenditure
  269. Special rate expenditure
  270. 104ASpecial rate expenditure
  271. 104AAMeaning of “main rate car”
  272. 104BApplication of Chapter to part of expenditure
  273. Rules applying to special rate expenditure
  274. 104CSpecial rate pool
  275. 104DWriting-down allowances at 6% or 10%
  276. 104EDisposal value of special rate assets
  277. 104FSpecial rate cars: discontinued activity continued by relevant company
  278. 104GDisposal events in respect of cushion gas
  279. Chapter 11: Overseas leasing
  280. Basic terms
  281. 105“Leasing”, “overseas leasing” etc.
  282. 106The designated period
  283. Certain expenditure to be pooled
  284. 107The overseas leasing pool
  285. 108Effect of disposal to connected person on overseas leasing pool
  286. Allowances reduced or, in certain cases, prohibited
  287. 109Writing-down allowances at 10%
  288. 110Cases where allowances are prohibited
  289. Recovery of excess allowances
  290. 111Excess allowances: standard recovery mechanism
  291. 112Excess allowances: connected persons
  292. 113Excess allowances: special provision for ships
  293. Recovery of allowances given in cases where prohibition applies
  294. 114Prohibited allowances: standard recovery mechanism
  295. 115Prohibited allowances: connected persons
  296. Application of Chapter in relation to joint lessees
  297. 116Mitigation of regime
  298. 117Recovery of allowances in case of joint lessees
  299. Duties to supply information
  300. 118Certificate relating to protected leasing
  301. 119Notice of change of use of plant or machinery
  302. 120Notice and joint lessees
  303. Qualifying purposes
  304. 121Meaning of “short-term leasing”
  305. 122Short-term leasing by buyer, lessee, etc.
  306. 123Ships and aircraft
  307. 124Transport containers
  308. 125Other qualifying purposes
  309. Minor definitions
  310. 126Minor definitions
  311. Chapter 12: Ships
  312. Pooling and postponement of allowances
  313. 127Single ship pool
  314. 128Expenditure which is not to be allocated to single ship pool
  315. 129Election to use the appropriate non-ship pool
  316. 130Notice postponing first-year or writing-down allowance
  317. 131Effect of postponement
  318. 132Disposal events and single ship pool
  319. 133Ship not used
  320. Deferment of balancing charges
  321. 134Deferment of balancing charges: introduction
  322. 135Claim for deferment
  323. 136Further conditions for deferment
  324. 137Effect of deferment
  325. 138Limit on amount deferred
  326. 139Amount taken into account in respect of old ship
  327. Attribution of deferred amounts
  328. 140Notice attributing deferred amounts to new expenditure
  329. 141Deferred amounts attributed to earlier expenditure first
  330. 142Variation of attribution
  331. 143Effect of attribution
  332. 144Amounts which cease to be attributable
  333. 145Requirement to notify where no entitlement to defer amounts
  334. Expenditure on new shipping
  335. 146Basic meaning of expenditure on new shipping
  336. 147Exclusions: ship previously owned
  337. 148Exclusions: object to secure deferment
  338. 149Exclusions: later events
  339. 150Exclusions where expenditure not incurred by shipowner
  340. Qualifying ships
  341. 151Basic meaning of qualifying ship
  342. 152Ships under 100 tons
  343. 153Ships which are not qualifying ships
  344. 154Further registration requirement
  345. Deferment of balancing charges: supplementary provisions
  346. 155Change in the persons carrying on the qualifying activity
  347. 156Connected persons
  348. Further provisions
  349. 157Adjustment of assessments etc.
  350. 158Members of same group
  351. Chapter 13: Provisions affecting mining and oil industries
  352. Expenditure connected with mineral extraction trades
  353. 159Meaning of “mineral extraction trade” etc.
  354. 160Expenditure treated as incurred for purposes of mineral extraction trade
  355. 161Pre-trading expenditure on mineral exploration and access
  356. Expenditure connected with reuse etc. of offshore oil infrastructure
  357. 161AMeaning of “offshore infrastructure”
  358. 161BMeaning of “decommissioning expenditure”
  359. 161CExpenditure related to reuse etc. qualifies for writing-down allowances
  360. 161DExceptions to section 161C(2)
  361. Provisions relating to ring fence trades
  362. 162Ring fence trade a separate qualifying activity
  363. 163Meaning of “general decommissioning expenditure”
  364. 163AExpenditure in anticipation of approval of abandonment programme
  365. 164General decommissioning expenditure incurred before cessation of ring fence trade
  366. 165General decommissioning expenditure after ceasing ring fence trade
  367. Restrictions on allowances: anti-avoidance
  368. 165ADecommissioning services supplied by connected person
  369. 165BRestriction on allowance available
  370. 165CAllowance in respect of certain services related to decommissioning
  371. 165DAllowance where decommissioning undertaken for other participators in oil field
  372. 165ETransaction to obtain tax advantage
  373. Transfers of interests in oil fields: anti-avoidance
  374. 166Transfers of interests in oil fields: anti-avoidance
  375. Oil production sharing contracts
  376. 167Oil production sharing contracts
  377. 168Expenditure on plant or machinery incurred by contractor
  378. 169Expenditure on plant or machinery incurred by participator
  379. 170Participator’s expenditure attributable to plant or machinery
  380. 171Disposal values on cessation of ownership
  381. Chapter 14: Fixtures
  382. Introduction
  383. 172Scope of Chapter etc.
  384. 172ALong funding leases etc: cases where this Chapter does not apply.
  385. 173Meaning of “fixture” and “relevant land”
  386. 174Meaning of “equipment lease” and “lease”
  387. 175Meaning of “interest in land”, etc.
  388. 175AMeaning of “energy services agreement”
  389. Persons who are treated as owners of fixtures
  390. 176Person with interest in relevant land having fixture for purposes of qualifying activity
  391. 177Equipment lessors
  392. 178Equipment lessee has qualifying activity etc.
  393. 179Equipment lessor has right to sever fixture that is not part of building
  394. 180Equipment lease is part of affordable warmth programme
  395. 180AEnergy services providers
  396. 181Purchaser of land giving consideration for fixture
  397. 182Purchaser of land discharging obligations of equipment lessee
  398. 182APurchaser of land discharging obligations of client under energy services agreement
  399. 183Incoming lessee where lessor entitled to allowances
  400. 184Incoming lessee where lessor not entitled to allowances
  401. Restrictions on amount of qualifying expenditure
  402. 185Fixture on which a plant and machinery allowance has been claimed
  403. 186Fixture on which an industrial buildings allowance has been made
  404. 186AFixtures on which a business premises renovation allowance has been made
  405. 187Fixture on which a research and development allowance has been made
  406. 187AEffect of changes in ownership of a fixture
  407. 187BSection 187A: supplementary provision
  408. Cessation of ownership of fixtures
  409. 188Cessation of ownership when person ceases to have qualifying interest
  410. 189Identifying the qualifying interest in special cases
  411. 190Cessation of ownership of lessor where section 183 applies
  412. 191Cessation of ownership on severance of fixture
  413. 192Cessation of ownership of equipment lessor
  414. 192ACessation of ownership of energy services provider
  415. Acquisition of ownership of fixture when another ceases to own it
  416. 193Acquisition of ownership by lessor or licensor on termination of lease or licence
  417. 194Acquisition of ownership by assignee of equipment lessor
  418. 195Acquisition of ownership by equipment lessee
  419. 195AAcquisition of ownership by assignee of energy services provider
  420. 195BAcquisition of ownership by client
  421. Disposal values
  422. 196Disposal values in relation to fixtures: general
  423. 197Disposal values in avoidance cases
  424. Election to fix apportionment
  425. 198Election to apportion sale price on sale of qualifying interest
  426. 199Election to apportion capital sum given by lessee on grant of lease
  427. 200Elections under sections 198 and 199: supplementary
  428. 201Elections under sections 198 and 199: procedure
  429. Further provisions
  430. 202Interpretation
  431. 203Amendment of returns etc.
  432. 204Appeals etc.
  433. Chapter 15: Asset provided or used only partly for qualifying activity
  434. 205Reduction of annual investment allowance and first-year allowances
  435. 206Single asset pool etc.
  436. 207Reduction of allowances and charges on expenditure in single asset pool
  437. 208Effect of significant reduction in use for purposes of qualifying activity
  438. 208ACars: disposal value in avoidance cases
  439. Chapter 16: Partial depreciation subsidies
  440. 209Meaning of “partial depreciation subsidy”
  441. 210Reduction of annual investment allowance and first-year allowances
  442. 211Single asset pool etc.
  443. 212Reduction of allowances and charges on expenditure in single asset pool
  444. Chapter 16ZA: Asset provided or used only partly for NI rate activity
  445. 212ZAApportionment of expenditure incurred partly for NI rate activity
  446. 212ZBSingle asset pool etc
  447. 212ZCAllowances and charges on expenditure in single asset pool
  448. 212ZDEffect of significant change in balance of use
  449. 212ZEApplication of Chapter to partnerships
  450. 212ZF“Main rate activity”
  451. Chapter 16A: Restrictions on allowance buying
  452. Introduction
  453. 212AScope of Chapter
  454. 212BWhere Chapter applies
  455. Qualifying change
  456. 212CWhen there is qualifying change in relation to C
  457. 212DGuide to sections explaining section 212C
  458. 212EPrincipal companies
  459. 212FWhen company is owned by consortium and consortium members
  460. 212GQualifying 75% subsidiaries
  461. 212HOwnership proportion
  462. 212IRelevant percentage share
  463. Relevant excess of allowances
  464. 212JRelevant excess of allowances
  465. 212KRelevant tax written-down value
  466. 212LBalance sheet value
  467. Limiting conditions
  468. 212LALimiting conditions
  469. Unallowable purpose
  470. 212MUnallowable purpose
  471. What happens when Chapter applies
  472. 212NOld and new accounting periods
  473. 212OWhen there is excess of allowances in pool: amount of excess
  474. 212PEffect of excess of allowances on pools
  475. 212QWhen there are postponed capital allowances
  476. 212RApportionment of proceeds of disposal of relevant plant and machinery
  477. 212STransactions on relevant day
  478. Chapter 16B: Cap on first-year allowances...
  479. 212TCap on first-year allowances: zero-emission goods vehicles
  480. 212UCap on first-year allowances: expenditure on plant and machinery for use in designated assisted areas
  481. Chapter 17: Other anti-avoidance
  482. Relevant transactions
  483. 213Relevant transactions: sale, hire-purchase (etc.) and assignment
  484. Restrictions on allowances
  485. 214Connected persons
  486. 215Transactions to obtain tax advantages
  487. 216Sale and leaseback, etc.
  488. 217No annual investment allowance or first-year allowance for B’s expenditure
  489. 218Restriction on B’s qualifying expenditure: section 214 or 216
  490. 218ZARestrictions on writing-down allowances: section 215
  491. 218ZBDisposal values: section 215
  492. 218AFurther restriction on annual investment allowance
  493. Finance leases and certain operating leases
  494. 219Meaning of “finance lease”
  495. 220Allocation of expenditure to a chargeable period
  496. Sale and finance leasebacks
  497. 221Meaning of “sale and finance leaseback”
  498. 222Disposal value restricted Repealed
  499. 223No first-year allowance for B’s expenditure Repealed
  500. 224Restriction on B’s qualifying expenditure Repealed
  501. 225B’s qualifying expenditure if lessor not bearing non-compliance risk
  502. 226Qualifying expenditure limited in subsequent transactions Repealed
  503. Sale and leaseback: election for special treatment
  504. 227Sale and leaseback: election for special treatment
  505. 228Effect of election: relaxation of restriction on B’s qualifying expenditure, etc.
  506. Finance leaseback: parties' income and profits
  507. 228AApplication of sections 228B and 228C
  508. 228BS's income or profits etc: deductions
  509. 228CS's income or profits: termination of leaseback
  510. 228DLessor’s income or profits Repealed
  511. 228ELessor’s income or profits: termination of leaseback Repealed
  512. 228FLease and finance leaseback Repealed
  513. 228GLeaseback not accounted for as finance lease in S's accounts
  514. 228HSections 228A to 228G: supplementary
  515. 228JPlant or machinery subject to further operating lease
  516. Disposal of plant or machinery subject to lease where income retained
  517. 228KDisposal of plant or machinery subject to lease where income retained
  518. 228LDetermining the net present value of the rentals for purposes of s.228K
  519. 228MOther definitions for the purposes of s.228K
  520. 228MARestriction of qualifying expenditure
  521. 228MBCalculation of present value
  522. 228MCRental rebate
  523. Miscellaneous and supplementary
  524. 229Hire-purchase etc.
  525. 229ATransfer followed by hire-purchase etc: restrictions on hirer's allowances
  526. 230Exception for manufacturers and suppliers
  527. 231Adjustments of assessments etc.
  528. 232Meaning of connected person
  529. 233Additional VAT liabilities and rebates
  530. Chapter 18: Additional VAT liabilities and rebates
  531. Introduction
  532. 234Introduction
  533. Additional VAT liability
  534. 235Additional VAT liability treated as qualifying expenditure
  535. 236Additional VAT liability generates first-year allowance or annual investment allowance
  536. 237Exceptions to section 236
  537. Additional VAT rebate
  538. 238Additional VAT rebate generates disposal value
  539. 239Limit on disposal value where additional VAT rebate
  540. Short-life assets: balancing allowance
  541. 240Additional VAT liability
  542. Anti-avoidance
  543. 241No annual investment allowance or first-year allowance in respect of additional VAT liability
  544. 242Restriction on B’s qualifying expenditure: general
  545. 243Restriction on B’s qualifying expenditure: sale and finance leaseback Repealed
  546. 244B’s qualifying expenditure if lessor not bearing non-compliance risk
  547. 245Effect of election under section 227 on additional VAT liability
  548. 246Miscellaneous
  549. Chapter 19: Giving effect to allowances and charges
  550. Trades
  551. 247Trades
  552. Property businesses
  553. 248...UK property businesses
  554. 249UK furnished holiday lettings businesses Repealed
  555. 250... Overseas property businesses
  556. 250AEEA furnished holiday lettings businesses Repealed
  557. Activities analogous to trades
  558. 251Professions and vocations
  559. 252Mines, transport undertakings etc.
  560. Companies with investment business
  561. 253Companies with investment business
  562. Long-term business
  563. 254Introductory
  564. 255Apportionment of allowances and charges
  565. 256Different giving effect rules for BLAGAB
  566. 257Supplementary
  567. Special leasing of plant or machinery
  568. 258Special leasing: income tax
  569. 259Special leasing: corporation tax (general)
  570. 260Special leasing: corporation tax (excess allowance)
  571. 261Special leasing: long-term business
  572. 261ASpecial leasing: leasing partnerships
  573. Employments and offices
  574. 262Employments and offices
  575. First-year tax credits
  576. 262AFirst-year tax credits Repealed
  577. Chapter 20: Supplementary provisions
  578. Co-ownership ... contractual schemes
  579. 262AACo-ownership schemes: carrying on qualifying activity
  580. 262ABCo-ownership schemes: election
  581. 262ACCo-ownership schemes: calculation of allowance after election
  582. 262ADCo-ownership schemes: effect of election for participants
  583. 262AECo-ownership schemes: effect of election for purchasers
  584. 262AEACo-ownership authorised contractual schemes: withdrawal of election
  585. 262AFCo-ownership schemes: definitions relating to schemes
  586. Partnerships and successions
  587. 263Qualifying activities carried on in partnership
  588. 264Partnership using property of a partner
  589. 265Successions: general
  590. 266Election where predecessor and successor are connected persons
  591. 267Effect of election
  592. 267ARestriction on effect of election
  593. 268Successions by beneficiaries
  594. Cars etc
  595. 268AMeaning of “car” and “motor cycle”
  596. 268BElectrically-propelled vehicles
  597. 268CTerms relating to emissions
  598. 268DHire cars for disabled persons
  599. 268EMeaning of “assigns”
  600. Miscellaneous
  601. 269Use of plant or machinery for business entertainment
  602. 270Shares in plant or machinery
  603. Part 2A: STRUCTURES AND BUILDINGS ALLOWANCES
  604. Chapter 1: INTRODUCTION
  605. 270AAStructures and buildings allowances
  606. 270ABDate on which construction begins
  607. Chapter 2: QUALIFYING EXPENDITURE
  608. Meaning of “qualifying expenditure”
  609. 270BAMeaning of “qualifying expenditure”
  610. Qualifying expenditure incurred on construction
  611. 270BBCapital expenditure incurred on construction
  612. Qualifying expenditure incurred on purchase
  613. 270BCSale of unused buildings or structures (other than by a developer)
  614. 270BDSale by a developer: unused buildings or structures
  615. 270BESale by a developer: used buildings or structures
  616. 270BFMeaning of references to carrying on trade as a developer
  617. Excluded expenditure
  618. 270BGAcquisition or alteration of land etc
  619. 270BHMarket value rule
  620. 270BIProvision of plant or machinery
  621. Expenditure treated as expenditure on construction
  622. 270BJExpenditure on renovation, conversion or incidental repairs
  623. 270BKPreparation of sites
  624. Supplementary provision about expenditure
  625. 270BLApportionment of sums partly referable to non-qualifying assets
  626. 270BMEvidence of the amount of expenditure
  627. 270BNExpenditure incurred before qualifying activity carried on
  628. Chapter 2A: special tax site qualifying expenditure
  629. 270BNAMeaning of “special tax site qualifying expenditure”
  630. 270BNBApportionment
  631. 270BNCPower to amend meaning of “special tax site qualifying expenditure” etc
  632. Chapter 3: QUALIFYING USE AND QUALIFYING ACTIVITIES
  633. Qualifying activities
  634. 270CAQualifying activities
  635. 270CBProperty businesses Repealed
  636. 270CCForeign permanent establishments
  637. 270CDCompanies with investment business
  638. Qualifying use
  639. 270CEQualifying use
  640. 270CFExclusion: residential use
  641. 270CGUse for the purposes of a property business
  642. Chapter 4: THE RELEVANT INTEREST IN THE BUILDING OR STRUCTURE
  643. 270DAGeneral rule as to what is the relevant interest
  644. 270DBInterest acquired on completion of construction
  645. 270DCEffect of creation of subordinate interest
  646. 270DDLeases granted for 35 years or more
  647. 270DEMerger of leasehold interest
  648. Chapter 5: CALCULATING THE ALLOWANCE: SUPPLEMENTARY PROVISION
  649. 270EAProportionate adjustment in certain cases
  650. 270EBMultiple uses
  651. 270ECResearch and development
  652. Chapter 6: HIGHWAY UNDERTAKINGS
  653. 270FACarrying on of highway undertakings
  654. 270FBThe relevant interest
  655. 270FCCases where highway concession is to be treated as extended
  656. Chapter 7: ADDITIONAL VAT LIABILITIES AND REBATES
  657. Introduction
  658. 270GAIntroduction
  659. Additional VAT liabilities
  660. 270GBAdditional VAT liabilities
  661. Additional VAT rebates
  662. 270GCAdditional VAT rebates
  663. Chapter 7A: Adjustment for pre-April 2020 allowance
  664. 270GDAdjustment for pre-April 2020 allowance
  665. Chapter 8: GIVING EFFECT TO ALLOWANCES
  666. Trades
  667. 270HATrades
  668. Property businesses
  669. 270HB... UK property businesses and ... overseas property businesses
  670. Activities analogous to trades
  671. 270HCProfessions and vocations
  672. 270HDMines, transport undertakings etc
  673. Companies with investment business
  674. 270HECompanies with investment business
  675. Long-term business
  676. 270HFApplication of sections 270HG and 270HH
  677. 270HGApportionment of allowances
  678. 270HHDifferent giving effect rules for BLAGAB
  679. 270HISupplementary
  680. Chapter 9: SUPPLEMENTARY PROVISIONS
  681. Evidence of qualifying expenditure etc
  682. 270IAEvidence of qualifying expenditure etc
  683. Anti-avoidance
  684. 270IBAnti-avoidance: general
  685. Co-ownership ... contractual schemes
  686. 270ICCo-ownership schemes: carrying on qualifying activity
  687. 270IDCo-ownership schemes: election
  688. 270IECo-ownership schemes: calculation of allowance after an election
  689. 270IFCo-ownership schemes: definitions relating to schemes
  690. Leases
  691. 270IGTreatment of leases
  692. 270IHMeaning of “lease” etc
  693. Part 3: Industrial buildings allowances
  694. Chapter 1: Introduction
  695. 271Industrial buildings allowances
  696. 272Expenditure on the construction of a building
  697. 273Preparation of sites for plant or machinery
  698. Chapter 2: Industrial buildings
  699. Buildings in use for the purposes of a qualifying trade
  700. 274Trades and undertakings which are “qualifying trades”
  701. 275Building used for welfare of workers
  702. 276Parts of trades and undertakings
  703. 277Exclusion of dwelling-houses, retail shops, showrooms, hotels and offices etc.
  704. 278Building used by more than one licensee
  705. Qualifying hotels and sports pavilions
  706. 279Qualifying hotels
  707. 280Qualifying sports pavilions
  708. Commercial buildings (enterprise zones)
  709. 281Commercial buildings (enterprise zones)
  710. Supplementary provisions
  711. 282Buildings outside the United Kingdom
  712. 283Non-industrial part of building disregarded
  713. 284Roads on industrial estates etc.
  714. 285Cessation of use and temporary disuse of building
  715. Chapter 3: The relevant interest in the building
  716. 286General rule as to what is the relevant interest
  717. 287Interest acquired on completion of construction
  718. 288Effect of creation of subordinate interest
  719. 289Merger of leasehold interest
  720. 290Election to treat grant of lease exceeding 50 years as sale
  721. 291Supplementary provisions with respect to elections
  722. Chapter 4: Qualifying expenditure
  723. Introduction
  724. 292Meaning of “qualifying expenditure”
  725. 293Meaning of references to carrying on a trade as a developer
  726. Qualifying expenditure
  727. 294Capital expenditure on construction of a building
  728. 295Purchase of unused building where developer not involved
  729. 296Purchase of building which has been sold unused by developer
  730. 297Purchase of used building from developer
  731. Qualifying enterprise zone expenditure
  732. 298The time limit for qualifying enterprise zone expenditure
  733. 299Application of section 294
  734. 300Application of sections 295 and 296
  735. 301Purchase of building within 2 years of first use
  736. Part of expenditure within time limit for qualifying enterprise zone expenditure
  737. 302Qualifying enterprise zone expenditure where section 295 or 296 applies
  738. 303Purchase of building within 2 years of first use
  739. 304Application of section 303 where developer involved
  740. Chapter 5: Initial allowances
  741. 305Initial allowances for qualifying enterprise zone expenditure
  742. 306Amount of initial allowance and period for which allowance made
  743. 307Building not industrial building when first used etc.
  744. 308Grants affecting entitlement to initial allowances
  745. Chapter 6: Writing-down allowances
  746. 309Entitlement to writing-down allowance
  747. 310Basic rule for calculating amount of allowance
  748. 311Calculation of allowance after sale of relevant interest
  749. 312Allowance limited to residue of qualifying expenditure
  750. 313Meaning of “the residue of qualifying expenditure”
  751. 313ACalculation of allowance after sale of relevant interest: anti-avoidance
  752. Chapter 7: Balancing adjustments
  753. General
  754. 314When balancing adjustments are made
  755. 315Main balancing events
  756. 316Proceeds from main balancing events
  757. 317Balancing event where hotel not qualifying hotel for 2 years
  758. Calculation of balancing adjustments
  759. 318Building an industrial building etc. throughout
  760. 319Building not an industrial building etc. throughout
  761. 320Overall limit on balancing charge
  762. Meaning of “the relevant period of ownership” etc.
  763. 321The relevant period of ownership
  764. 322Starting expenditure
  765. 323Adjusted net cost
  766. 324Net allowances
  767. Balancing allowances restricted where sale subject to subordinate interest
  768. 325Balancing allowances restricted where sale subject to subordinate interest
  769. 326Interpretation of section 325
  770. Qualifying enterprise zone expenditure: effect of realising capital value
  771. 327Capital value provisions: application of provisions
  772. 328Balancing adjustment on realisation of capital value
  773. 329Capital value that is attributable to subordinate interest
  774. 330Exception for payments more than 7 years after agreement
  775. 331Capital value provisions: interpretation
  776. Chapter 8: Writing off qualifying expenditure
  777. 332Introduction
  778. 333Writing off initial allowances
  779. 334Writing off writing-down allowances
  780. 335Writing off research and development allowances
  781. 336Writing off expenditure when building not an industrial building
  782. 337Writing off or increase of expenditure where balancing adjustment made
  783. 338Writing off capital value which has been realised
  784. 339Crown or other person not within the charge to tax entitled to the relevant interest
  785. 340Treatment of demolition costs
  786. Chapter 9: Highway undertakings
  787. 341Carrying on of highway undertakings
  788. 342The relevant interest
  789. 343Balancing adjustment on ending of concession
  790. 344Cases where highway concession is to be treated as extended
  791. Chapter 10: Additional VAT liabilities and rebates
  792. Introduction
  793. 345Introduction
  794. Additional VAT liabilities
  795. 346Additional VAT liabilities and initial allowances
  796. 347Additional VAT liabilities and writing-down allowances
  797. 348Additional VAT liabilities and writing off initial allowances
  798. Additional VAT rebates
  799. 349Additional VAT rebates and writing-down allowances
  800. 350Additional VAT rebates and balancing adjustments
  801. 351Additional VAT rebates and writing off qualifying expenditure
  802. Chapter 11: Giving effect to allowances and charges
  803. 352Trades
  804. 353Lessors and licensors
  805. 354Buildings temporarily out of use
  806. 355Buildings for miners etc.: carry-back of balancing allowances
  807. Chapter 12: Supplementary provisions
  808. 356Apportionment of sums partly referable to non-qualifying assets
  809. 357Arrangements having an artificial effect on pricing
  810. 358Requisitioned land
  811. 359Provisions applying on termination of lease
  812. 360Meaning of “lease” etc.
  813. Part 3A: Business Premises Renovation Allowances
  814. Chapter 1: INTRODUCTION
  815. 360ABusiness premises renovation allowances
  816. Chapter 2: QUALIFYING EXPENDITURE
  817. 360BMeaning of “qualifying expenditure”
  818. 360BAExpenditure not treated as qualifying expenditure if delay in carrying out works etc
  819. Chapter 3: QUALIFYING BUILDINGS AND QUALIFYING BUSINESS PREMISES
  820. 360CMeaning of “qualifying building”
  821. 360DMeaning of “qualifying business premises”
  822. Chapter 4: THE RELEVANT INTEREST IN THE QUALIFYING BUILDING
  823. 360EGeneral rule as to what is the relevant interest
  824. 360FInterest acquired on completion of conversion
  825. Chapter 5: INITIAL ALLOWANCES
  826. 360GInitial allowances
  827. 360HPremises not qualifying business premises or relevant interest sold before premises first used or let
  828. Chapter 6: WRITING-DOWN ALLOWANCES
  829. 360IEntitlement to writing-down allowances
  830. 360JAmount of allowance
  831. 360KMeaning of “ the residue of qualifying expenditure ”
  832. Chapter 7: GRANTS IN RESPECT OF QUALIFYING EXPENDITURE
  833. 360LGrants affecting entitlement to allowances
  834. Chapter 8: BALANCING ADJUSTMENTS
  835. 360MWhen balancing adjustments are made
  836. 360NBalancing events
  837. 360OProceeds from balancing events
  838. 360PCalculation of balancing adjustments
  839. Chapter 9: WRITING OFF QUALIFYING EXPENDITURE
  840. 360QIntroduction
  841. 360RWriting off initial allowances and writing-down allowances
  842. 360STreatment of demolition costs
  843. Chapter 10: ADDITIONAL VAT LIABILITIES AND REBATES
  844. 360TIntroduction
  845. 360UAdditional VAT liabilities and initial allowances
  846. 360VAdditional VAT liabilities and writing-down allowances
  847. 360WAdditional VAT liabilities and writing off initial allowances
  848. 360XAdditional VAT rebates and balancing adjustments
  849. 360YAdditional VAT rebates and writing off qualifying expenditure
  850. Chapter 11: SUPPLEMENTARY PROVISIONS
  851. 360ZGiving effect to allowances and charges: trades
  852. 360Z1Giving effect to allowances and charges: lessors and licensees
  853. 360Z2Apportionment of sums partly referable to non-qualifying assets
  854. 360Z3Provisions applying on termination of lease
  855. 360Z4Meaning of “lease” etc.
  856. Part 4: Agricultural buildings allowances
  857. Chapter 1: Introduction
  858. 361Agricultural buildings allowances
  859. 362Meaning of “husbandry”
  860. 363Expenditure on the construction of a building
  861. Chapter 2: The relevant interest
  862. 364General rule as to what is the relevant interest
  863. 365Effect of creation of subordinate lease
  864. 366Interest conveyed or assigned by way of security
  865. 367Merger of leasehold interest
  866. 368Provisions applying on ending of lease
  867. Chapter 3: Qualifying expenditure
  868. 369Capital expenditure on construction of agricultural building
  869. 370Purchase of relevant interest before first use of agricultural building
  870. 371Different relevant interests in different parts of the related agricultural land
  871. Chapter 4: Writing-down allowances
  872. 372Entitlement to writing-down allowance
  873. 373Basic rule for calculating amount of allowance
  874. 374First use of building not for purposes of husbandry, etc.
  875. 375Effect of acquisition of relevant interest after first use of building
  876. 376Calculation of allowance after acquisition
  877. 377Chargeable period when balancing adjustment made
  878. 378Allowance limited to residue of qualifying expenditure
  879. 379Final writing-down allowance
  880. Chapter 5: Balancing adjustments
  881. General
  882. 380When balancing adjustments are made
  883. 381Balancing events (on making an election)
  884. 382Requirements as to elections
  885. 383Proceeds from balancing events
  886. 384Exclusion of proportion of proceeds
  887. Calculation of balancing adjustments
  888. 385Calculation of balancing adjustment
  889. 386The residue of qualifying expenditure
  890. 387Overall limit on balancing charge
  891. 388Acquisition of relevant interest in part of land, etc.
  892. 389Balancing allowances restricted where sale subject to subordinate interest etc.
  893. 390Interpretation of section 389
  894. Chapter 6: Supplementary provisions
  895. Giving effect to allowances and charges
  896. 391Trades
  897. 392UK property businesses
  898. Meaning of “freehold interest”, “lease” etc.
  899. 393Meaning of “freehold interest”, “lease”, etc.
  900. Part 4A: FLAT CONVERSION ALLOWANCES Repealed
  901. Chapter 1: INTRODUCTION Repealed
  902. 393AFlat conversion allowances Repealed
  903. Chapter 2: QUALIFYING EXPENDITURE Repealed
  904. 393BMeaning of “qualifying expenditure” Repealed
  905. Chapter 3: QUALIFYING BUILDINGS AND QUALIFYING FLATS Repealed
  906. 393CMeaning of “qualifying building” Repealed
  907. 393DMeaning of “qualifying flat” Repealed
  908. 393EHigh value flats Repealed
  909. Chapter 4: THE RELEVANT INTEREST IN THE FLAT Repealed
  910. 393FGeneral rule as to what is the relevant interest Repealed
  911. 393GInterest acquired on completion of conversion Repealed
  912. Chapter 5: INITIAL ALLOWANCES Repealed
  913. 393HInitial allowances Repealed
  914. 393IFlat not qualifying flat or relevant interest sold before flat first let Repealed
  915. Chapter 6: WRITING-DOWN ALLOWANCES Repealed
  916. 393JEntitlement to writing-down allowances Repealed
  917. 393KAmount of allowance Repealed
  918. 393LMeaning of “the residue of qualifying expenditure” Repealed
  919. Chapter 7: BALANCING ADJUSTMENTS Repealed
  920. 393MWhen balancing adjustments are made Repealed
  921. 393NBalancing events Repealed
  922. 393OProceeds from balancing events Repealed
  923. 393PCalculation of balancing adjustments Repealed
  924. Chapter 8: WRITING OFF QUALIFYING EXPENDITURE Repealed
  925. 393QIntroduction Repealed
  926. 393RWriting off initial allowances and writing-down allowances Repealed
  927. 393STreatment of demolition costs Repealed
  928. Chapter 9: SUPPLEMENTARY PROVISIONS Repealed
  929. 393TGiving effect to allowances and charges Repealed
  930. 393UApportionment of sums partly referable to non-qualifying assets Repealed
  931. 393VProvisions applying on termination of lease Repealed
  932. 393WMeaning of “lease” etc. Repealed
  933. Part 5: Mineral extraction allowances
  934. Chapter 1: Introduction
  935. 394Mineral extraction allowances
  936. 395Qualifying expenditure
  937. 396Meaning of “mineral exploration and access”
  938. 397Meaning of “mineral asset”
  939. 398Relationship between main types of qualifying expenditure
  940. 399Expenditure excluded from being qualifying expenditure
  941. Chapter 2: Qualifying expenditure on mineral exploration and access
  942. 400Qualifying expenditure on mineral exploration and access
  943. 401Pre-trading exploration expenditure
  944. 402Pre-trading expenditure on plant or machinery
  945. Chapter 3: Qualifying expenditure on acquiring a mineral asset
  946. 403Qualifying expenditure on acquiring a mineral asset
  947. 404Exclusion of undeveloped market value of land
  948. 405Qualifying expenditure where buildings or structures cease to be used
  949. 406Reduction where premium relief previously allowed
  950. Chapter 4: Qualifying expenditure: second-hand assets
  951. Assets reflecting expenditure on mineral exploration and access
  952. 407Acquisition of mineral asset owned by previous trader
  953. 408Acquisition of oil licence from non-trader
  954. 409Acquisition of other assets from non-traders
  955. Qualifying expenditure on assets limited by reference to historic costs
  956. 410UK oil licence: limit is original licence payment
  957. 411Assets generally: limit is residue of previous trader’s qualifying expenditure
  958. 412Transfers of mineral assets within group: limit is initial group expenditure
  959. 413Transfers of mineral assets within group: supplementary
  960. Chapter 5: Other kinds of qualifying expenditure
  961. 414Expenditure on works likely to become valueless
  962. 415Contribution to buildings or works for benefit of employees abroad
  963. 416Non-ring fence trades: expenditure on restoration within 3 years of ceasing to trade
  964. 416ZARing fence trades: expenditure on site restoration
  965. 416ZB“Notional accounting period”
  966. 416ZCSite restoration services supplied by connected person
  967. 416ZDRestriction on allowance available
  968. 416ZEAllowance where site restoration undertaken for other participators in oil field
  969. Chapter 5A: First-year qualifying expenditure
  970. General
  971. 416AFirst-year allowances available for certain types of qualifying expenditure
  972. Types of expenditure which may qualify for first year allowances
  973. 416BExpenditure incurred by company for purposes of a ring fence trade
  974. Supplementary
  975. 416CTime when expenditure is incurred
  976. Chapter 6: Allowances and charges
  977. First-year allowances
  978. 416DFirst-year allowances
  979. 416EArtificially inflated claims for first-year allowances
  980. Writing-down and balancing allowances and balancing charges
  981. 417Determination of entitlement or liability
  982. 418Amount of allowances and charges
  983. Unrelieved qualifying expenditure
  984. 419Unrelieved qualifying expenditure
  985. 419AUnrelieved qualifying expenditure: entry to cash basis
  986. Disposal values
  987. 420Meaning of “disposal receipt”
  988. 421Disposal of, or ceasing to use, asset
  989. 422Use of asset otherwise than for permitted development etc.
  990. 423Sections 421 and 422: amount of disposal value to be brought into account
  991. 424Disposal value restricted in case of interest in land
  992. 425Receipt of capital sum
  993. Cases in which a person is entitled to a balancing allowance
  994. 426Pre-trading expenditure
  995. 427Giving up exploration, search or inquiry
  996. 428Ceasing to work mineral deposits
  997. 429Buildings etc. for benefit of employees abroad ceasing to be used
  998. 430Disposal of asset, etc.
  999. 431Discontinuance of trade
  1000. 431AForeign permanent establishment exemption
  1001. 431BDisposal value: no allowance/no charge cases
  1002. 431CNotional allowances
  1003. 431DPersons leaving cash basis
  1004. Chapter 7: Supplementary provisions
  1005. 432Giving effect to allowances and charges
  1006. 433Treatment of demolition costs
  1007. 434Time when expenditure incurred
  1008. 435Shares in assets
  1009. 436Meaning of “development” etc.
  1010. Part 6: Research and development allowances
  1011. Chapter 1: Introduction
  1012. 437Research and development allowances
  1013. 438Expenditure on research and development
  1014. Chapter 2: Qualifying expenditure
  1015. 439Qualifying expenditure
  1016. 439AQualifying expenditure incurred for purposes of NI rate activity
  1017. 440Excluded expenditure: land
  1018. Chapter 3: Allowances and charges
  1019. 441Allowances
  1020. 442Balancing charges
  1021. 443Disposal values and disposal events
  1022. 444Disposal events: chargeable period for which disposal value is to be brought into account
  1023. 445Costs of demolition
  1024. Chapter 4: Additional VAT liabilities and rebates
  1025. 446Introduction
  1026. 447Additional VAT liability treated as additional expenditure etc.
  1027. 448Additional VAT rebate generates disposal value
  1028. 449Effect on balancing charges of additional VAT rebates in earlier chargeable periods
  1029. Chapter 5: Supplementary provisions
  1030. 450Giving effect to allowances and charges
  1031. 451Sales: time of cessation of ownership
  1032. Part 7: Know-how allowances
  1033. Chapter 1: Introduction
  1034. 452Know-how allowances
  1035. 453Know-how as property
  1036. Chapter 2: Qualifying expenditure
  1037. 454Qualifying expenditure
  1038. 455Excluded expenditure
  1039. Chapter 3: Allowances and charges
  1040. 456Pooling of expenditure
  1041. 457Determination of entitlement or liability
  1042. 458Amount of allowances and charges
  1043. 459Available qualifying expenditure
  1044. 460Allocation of qualifying expenditure to pools
  1045. 461Unrelieved qualifying expenditure
  1046. 461AUnrelieved qualifying expenditure: entry to cash basis
  1047. 462Disposal values
  1048. 462APersons leaving cash basis
  1049. 463Giving effect to allowances and charges
  1050. Part 8: Patent allowances
  1051. Chapter 1: Introduction
  1052. 464Patent allowances
  1053. 465Future patent rights
  1054. 466Grant of licences
  1055. Chapter 2: Qualifying expenditure
  1056. 467Qualifying expenditure
  1057. 468Qualifying trade expenditure
  1058. 469Qualifying non-trade expenditure
  1059. Chapter 3: Allowances and charges
  1060. 470Pooling of expenditure
  1061. 471Determination of entitlement or liability
  1062. 472Amount of allowances and charges
  1063. 473Available qualifying expenditure
  1064. 474Allocation of qualifying expenditure to pools
  1065. 475Unrelieved qualifying expenditure
  1066. 475AUnrelieved qualifying expenditure: entry to cash basis
  1067. 476Disposal value of patent rights
  1068. 477Limit on amount of disposal value
  1069. 477APersons leaving cash basis
  1070. Chapter 4: Giving effect to allowances and charges
  1071. 478Persons having qualifying trade expenditure
  1072. 479Persons having qualifying non-trade expenditure: income tax
  1073. 480Persons having qualifying non-trade expenditure: corporation tax
  1074. Chapter 5: Supplementary provisions
  1075. 481Anti-avoidance: limit on qualifying expenditure
  1076. 482Sums paid for Crown use etc. treated as paid under licence
  1077. 483Meaning of “income from patents”
  1078. Part 9: Dredging allowances
  1079. Qualifying expenditure on dredging, etc.
  1080. 484Dredging allowances
  1081. 485Qualifying expenditure
  1082. 486Pre-trading expenditure of qualifying trades, etc.
  1083. Writing-down and balancing allowances
  1084. 487Writing-down allowances
  1085. 488Balancing allowances
  1086. Giving effect to allowances
  1087. 489Giving effect to allowances
  1088. Part 10: Assured tenancy allowances
  1089. Chapter 1: Introduction
  1090. 490Assured tenancy allowances
  1091. 491Allowances available in relation to old expenditure only
  1092. 492Meaning of “approved body”
  1093. 493Expenditure on the construction of a building
  1094. Chapter 2: The relevant interest
  1095. Introduction
  1096. 494Introduction
  1097. The relevant interest in the building
  1098. 495General rule as to what is the relevant interest in the building
  1099. 496Interest acquired on completion of construction
  1100. 497Effect of creation of subordinate interest
  1101. 498Merger of leasehold interest
  1102. 499Provisions applying on termination of lease
  1103. The relevant interest in the dwelling-house
  1104. 500The relevant interest in the dwelling-house
  1105. Chapter 3: Qualifying expenditure
  1106. 501Capital expenditure on construction
  1107. 502Purchase of unused dwelling-house where developer not involved
  1108. 503Purchase of dwelling-house sold unused by developer
  1109. Chapter 4: Qualifying dwelling-houses
  1110. 504Requirements relating to the landlord
  1111. 505Qualifying dwelling-houses: exclusions
  1112. 506Dwelling-house ceasing to be qualifying dwelling-house
  1113. Chapter 5: Writing-down allowances
  1114. Entitlement to and calculation of writing-down allowances
  1115. 507Entitlement to writing-down allowance
  1116. 508Basic rule for calculating amount of allowance
  1117. 509Calculation of allowance after sale of relevant interest
  1118. 510Allowance limited to residue of qualifying expenditure attributable to dwelling-house
  1119. Interpretation
  1120. 511Qualifying expenditure attributable to dwelling-house
  1121. 512Residue of qualifying expenditure attributable to dwelling-house
  1122. Chapter 6: Balancing adjustments
  1123. General
  1124. 513When balancing adjustments are made
  1125. 514Balancing events
  1126. 515Proceeds from balancing events
  1127. Calculation of balancing adjustments
  1128. 516Dwelling-house a qualifying dwelling-house throughout
  1129. 517Dwelling-house not a qualifying dwelling-house throughout
  1130. 518Overall limit on balancing charge
  1131. 519Recovery of old initial allowances made on incorrect assumptions
  1132. Meaning of “the relevant period of ownership” etc.
  1133. 520The relevant period of ownership
  1134. 521Starting expenditure
  1135. 522Adjusted net cost
  1136. Chapter 7: Writing off qualifying expenditure attributable to dwelling-house
  1137. 523Introduction
  1138. 524Writing off initial allowances
  1139. 525Writing off writing-down allowances
  1140. 526Writing off expenditure for periods when building not used as qualifying dwelling-house
  1141. 527Writing off or increase of expenditure where balancing adjustment made
  1142. 528Treatment of demolition costs
  1143. Chapter 8: Supplementary provisions
  1144. 529Giving effect to allowances and charges
  1145. 530Apportionment of sums partly referable to non-qualifying assets
  1146. 531Meaning of “dwelling-house”, “lease” etc.
  1147. Part 11: Contributions
  1148. Chapter 1: Exclusion of expenditure met by contributions
  1149. Rules excluding contributions
  1150. 532The general rule excluding contributions
  1151. 533Exclusion of contributions to dredging
  1152. Exceptions to the general rule excluding contributions
  1153. 534Northern Ireland regional development grants
  1154. 535Insurance or compensation money
  1155. 536Contributions not made by public bodies and not eligible for tax relief
  1156. Chapter 2: Contribution allowances
  1157. Contribution allowances under Parts 2, 2A, 3, 4 and 5
  1158. 537Conditions for contribution allowances under Parts 2, 2A ... and 5
  1159. 538Plant and machinery
  1160. 538ABuildings and structures
  1161. 539Industrial buildings Repealed
  1162. 540Agricultural buildings Repealed
  1163. 541Mineral extraction
  1164. Effect of transfers of C’s trade on contribution allowances under Parts 3, 4 and 5
  1165. 542Transfer of C’s trade ...
  1166. Contribution allowances under Part 9
  1167. 543Contribution allowances under Part 9
  1168. Part 12: Supplementary provisions
  1169. Chapter 1: LONG-TERM business
  1170. 544Management assets
  1171. 545Investment assets
  1172. Chapter 2: Additional VAT liabilities and rebates: interpretation, etc.
  1173. 546Introduction
  1174. 547“Additional VAT liability” and “additional VAT rebate”
  1175. 548Time when additional VAT liability or rebate is incurred or made
  1176. 549Chargeable period in which, and time when, additional VAT liability or rebate accrues
  1177. 550Apportionment of additional VAT liabilities and rebates
  1178. 551Supplementary
  1179. Chapter 3: Disposals of oil licences: provisions relating to Parts 5 and 6
  1180. Introduction
  1181. 552Meaning of “oil licence” and “interest in an oil licence”
  1182. Oil licences relating to undeveloped areas
  1183. 553Consideration to be treated as nil
  1184. 554Circumstances in which oil licence relates to undeveloped area
  1185. Disposal of oil licence with exploitation value
  1186. 555Disposal of oil licence with exploitation value
  1187. Minor definitions
  1188. 556Minor definitions
  1189. Chapter 4: Partnerships, successions and transfers
  1190. 557Application of sections 558 and 559
  1191. 558Effect of partnership changes
  1192. 559Effect of successions
  1193. 560Transfer of insurance company business
  1194. 560ATransfers of trade without a change of ownership
  1195. 561Transfer or division of UK business
  1196. 561ATransfer of asset by reason of cross-border merger
  1197. Chapter 5: Miscellaneous
  1198. Apportionment
  1199. 562Apportionment where property sold together
  1200. Procedure for determining certain questions
  1201. 563Procedure for determining certain questions affecting one or more persons
  1202. 564Questions to which procedure in section 563 applies
  1203. Tax agreements for income tax purposes
  1204. 565Tax agreements for income tax purposes
  1205. Companies not resident in the United Kingdom
  1206. 566Companies not resident in the United Kingdom
  1207. Sales treated as being for alternative amount
  1208. 567Sales treated as being for alternative amount: introductory
  1209. 568Sales treated as being at market value
  1210. 569Election to treat sale as being for alternative amount
  1211. 570Elections: supplementary
  1212. Anti-avoidance
  1213. 570AAvoidance affecting proceeds of balancing event
  1214. Chapter 6: Final provisions
  1215. Orders and regulations
  1216. 570BOrders and regulations made by Treasury or Commissioners
  1217. General interpretation
  1218. 571Application of Act to parts of assets
  1219. 572References to sale of property and time of sale
  1220. 573Transfers treated as sales
  1221. 573ASpecial tax sites
  1222. 574Meaning of “control”
  1223. 575Meaning of “connected” persons
  1224. 575ASection 575: supplementary
  1225. 576Meaning of “the Inland Revenue” etc. Repealed
  1226. 577Other definitions
  1227. Amendments, repeals, citation etc.
  1228. 578Consequential amendments
  1229. 579Commencement and transitional provisions and savings
  1230. 580Repeals
  1231. 581Citation
  1232. Schedule A1: First-year tax credits Repealed
  1233. Part 1: Entitlement to first-year tax credits Repealed
  1234. Entitlement to first-year tax credits Repealed
  1235. 1Paragraph 1 Repealed
  1236. Amount of first-year tax credit Repealed
  1237. 2Paragraph 2 Repealed
  1238. Meaning of “relevant first-year expenditure” Repealed
  1239. 3Paragraph 3 Repealed
  1240. Incurring a loss in carrying on a qualifying activity Repealed
  1241. 4Paragraph 4 Repealed
  1242. 5Paragraph 5 Repealed
  1243. 6Paragraph 6 Repealed
  1244. 7Paragraph 7 Repealed
  1245. 8Paragraph 8 Repealed
  1246. 9Paragraph 9 Repealed
  1247. Unrelieved loss Repealed
  1248. 10Paragraph 10 Repealed
  1249. 11Paragraph 11 Repealed
  1250. 12Paragraph 12 Repealed
  1251. 13Paragraph 13 Repealed
  1252. 14Paragraph 14 Repealed
  1253. 15Paragraph 15 Repealed
  1254. 16Paragraph 16 Repealed
  1255. Total amount of company's PAYE and NICs liabilities Repealed
  1256. 17Paragraph 17 Repealed
  1257. Part 2: Giving effect to first-year tax credits Repealed
  1258. Payment in respect of first-year tax credit Repealed
  1259. 18Paragraph 18 Repealed
  1260. Restriction on losses carried forward Repealed
  1261. 19Paragraph 19 Repealed
  1262. 20Paragraph 20 Repealed
  1263. 21Paragraph 21 Repealed
  1264. 22Paragraph 22 Repealed
  1265. Payment in respect of first-year tax credit not income Repealed
  1266. 23Paragraph 23 Repealed
  1267. Part 3: Clawback of first-year tax credit Repealed
  1268. Circumstances in which first-year tax credit clawed back Repealed
  1269. 24Paragraph 24 Repealed
  1270. Interpretation Repealed
  1271. 25Paragraph 25 Repealed
  1272. Amount of restored loss Repealed
  1273. 26Paragraph 26 Repealed
  1274. Clawback of first-year tax credits: administrative provision Repealed
  1275. 27Paragraph 27 Repealed
  1276. Part 4: Supplementary Repealed
  1277. Artificially inflated claims Repealed
  1278. 28Paragraph 28 Repealed
  1279. Interpretation Repealed
  1280. 29Paragraph 29 Repealed
  1281. Schedule 1: Abbreviations and defined expressions
  1282. 1Abbreviations
  1283. 2Defined expressions
  1284. Schedule 2: Consequential amendments
  1285. The Taxes Management Act 1970 (c. 9)
  1286. 1Section 42 (procedure for making claims etc.)
  1287. 2Section 57 (regulations about appeals)
  1288. 3Section 58 (proceedings in tax cases in Northern Ireland)
  1289. 4Section 98 (special returns, etc.)
  1290. 5Paragraph 5 Repealed
  1291. The Finance Act 1982 (c. 39)
  1292. 6Section 137 (expenditure met by regional development plans to be disregarded for certain purposes)
  1293. The London Regional Transport Act 1984 (c. 32)
  1294. 7Schedule 5 (transitional provisions and savings)
  1295. The Films Act 1985 (c. 21)
  1296. 8Section 6 (certification of films as British films)
  1297. 9Schedule 1 (certification of films as British films)
  1298. The Trustee Savings Banks Act 1985 (c. 58)
  1299. 10Schedule 2 (taxation)
  1300. The Income and Corporation Taxes Act 1988 (c. 1)
  1301. 11Paragraph 11 Repealed
  1302. 12Paragraph 12 Repealed
  1303. 13Paragraph 13 Repealed
  1304. 14Paragraph 14 Repealed
  1305. 15Paragraph 15 Repealed
  1306. 16Paragraph 16 Repealed
  1307. 17Paragraph 17 Repealed
  1308. 18Paragraph 18 Repealed
  1309. 19Paragraph 19 Repealed
  1310. 20Paragraph 20 Repealed
  1311. 21Paragraph 21 Repealed
  1312. 22Paragraph 22 Repealed
  1313. 23Paragraph 23 Repealed
  1314. 24Paragraph 24 Repealed
  1315. 25Paragraph 25 Repealed
  1316. 26Paragraph 26 Repealed
  1317. 27Paragraph 27 Repealed
  1318. 28Paragraph 28 Repealed
  1319. 29Section 384 (restrictions on right of set-off)
  1320. 30Paragraph 30 Repealed
  1321. 31Paragraph 31 Repealed
  1322. 32Paragraph 32 Repealed
  1323. 33Paragraph 33 Repealed
  1324. 34Paragraph 34 Repealed
  1325. 35Paragraph 35 Repealed
  1326. 36Paragraph 36 Repealed
  1327. 37Paragraph 37 Repealed
  1328. 38Paragraph 38 Repealed
  1329. 39Sections 434D and 434E (capital allowances: management assets; investment assets)
  1330. 40Paragraph 40 Repealed
  1331. 41Paragraph 41 Repealed
  1332. 42Paragraph 42 Repealed
  1333. 43Paragraph 43 Repealed
  1334. 44Sections 520 to 523 (patents)
  1335. 45Paragraph 45 Repealed
  1336. 46Paragraph 46 Repealed
  1337. 47Section 530 (disposal of know-how)
  1338. 48Paragraph 48 Repealed
  1339. 49Paragraph 49 Repealed
  1340. 50Paragraph 50 Repealed
  1341. 51Paragraph 51 Repealed
  1342. 52Paragraph 52 Repealed
  1343. 53Paragraph 53 Repealed
  1344. 54Paragraph 54 Repealed
  1345. 55Paragraph 55 Repealed
  1346. 56Paragraph 56 Repealed
  1347. 57Paragraph 57 Repealed
  1348. 58Paragraph 58 Repealed
  1349. 59Section 831 (interpretation of Act)
  1350. 60Paragraph 60 Repealed
  1351. 61Section 834 (interpretation of the Corporation Tax Acts)
  1352. 62Paragraph 62 Repealed
  1353. 63Schedule 18 (group relief) Repealed
  1354. 64Schedule 19AC (modification of Act in relation to overseas life insurance companies)
  1355. 65Schedule 21 (tax relief in connection with schemes for rationalising industry and other redundancy schemes)
  1356. 66Schedule 24 (assumptions for calculating chargeable profits, creditable tax and corresponding United Kingdom tax of foreign companies)
  1357. 67Paragraph 67 Repealed
  1358. 68Paragraph 68 Repealed
  1359. The Finance Act 1988 (c. 39)
  1360. 69Schedule 12 (building societies: change of status)
  1361. The Finance Act 1989 (c. 26)
  1362. 70Paragraph 70 Repealed
  1363. The Electricity Act 1989 (c. 29)
  1364. 71Schedule 11 (taxation provisions)
  1365. The Finance Act 1990 (c. 29)
  1366. 72Section 126 (pools payments for football ground improvements) Repealed
  1367. The Finance Act 1991 (c. 31)
  1368. 73Paragraph 73 Repealed
  1369. 74Section 78 (sharing of transmission facilities)
  1370. The Social Security Contributions and Benefits Act 1992 (c. 4)
  1371. 75Schedule 2 (levy of Class 4 contributions with income tax)
  1372. The Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7)
  1373. 76Schedule 2 (levy of Class 4 contributions with income tax)
  1374. The Taxation of Chargeable Gains Act 1992 (c. 12)
  1375. 77Section 37 (consideration chargeable to tax on income)
  1376. 78Section 41 (restriction of losses by reference to capital allowances etc.)
  1377. 79Section 195 (allowance of certain drilling expenditure)
  1378. 80Section 288 (interpretation)
  1379. 81Schedule 3 (assets held on 31st March 1982)
  1380. The Finance (No. 2) Act 1992 (c. 48)
  1381. 82New sections 40A to 40D (films)
  1382. 83Section 41 (relief for preliminary expenditure)
  1383. 84Section 42 (relief for production or acquisition expenditure)
  1384. 85Section 43 (interpretation of sections 41 and 42)
  1385. 86Paragraph 86 Repealed
  1386. 87Schedule 17 (Northern Ireland electricity)
  1387. The Finance Act 1993 (c. 34)
  1388. 88Section 92 (the basic rule: sterling to be used)
  1389. 89Section 93 (use of currency other than sterling)
  1390. The Agriculture Act 1993 (c. 37)
  1391. 90Schedule 2 (provisions relating to carrying out approved schemes or reorganisation)
  1392. The Finance Act 1994 (c. 9)
  1393. 91Schedule 24 (provisions relating to the Railways Act 1993)
  1394. 92Schedule 25 (Northern Ireland Airports Limited)
  1395. The Coal Industry Act 1994 (c. 21)
  1396. 93Schedule 4 (taxation provisions)
  1397. The Atomic Energy Authority Act 1995 (c. 37)
  1398. 94Schedule 3 (taxation provisions)
  1399. The Finance Act 1996 (c. 8)
  1400. 95Section 151 (benefits under pilot schemes)
  1401. 96Paragraph 96 Repealed
  1402. The Broadcasting Act 1996 (c. 55)
  1403. 97Schedule 7 (transfer schemes relating to BBC transmission network: taxation provisions)
  1404. The Finance Act 1997 (c. 16)
  1405. 98Schedule 12 (leasing arrangements: finance leases and loans) Repealed
  1406. The Finance (No. 2) Act 1997 (c. 58)
  1407. 99Section 48 (films: relief for production or acquisition expenditure)
  1408. The Finance Act 1998 (c. 36)
  1409. 100Section 117 (company tax returns, assessments and related matters)
  1410. 101Paragraph 101 Repealed
  1411. 102Paragraph 102 Repealed
  1412. 103Schedule 18 (company tax returns, assessments and related matters)
  1413. The Finance Act 1999 (c. 16)
  1414. 104Paragraph 104 Repealed
  1415. The Greater London Authority Act 1999 (c. 29)
  1416. 105Schedule 33 (taxation)
  1417. The Finance Act 2000 (c. 17)
  1418. 106Section 105 (corporation tax: use of currencies other than sterling)
  1419. 107Paragraph 107 Repealed
  1420. 108Schedule 22 (tonnage tax)
  1421. The Transport Act 2000 (c. 38)
  1422. 109Schedule 26 (transfers: tax)
  1423. Schedule 3: Transitionals and savings
  1424. Part 1: Continuity of the law
  1425. 1Paragraph 1
  1426. 2Paragraph 2
  1427. 3Paragraph 3
  1428. 4Paragraph 4
  1429. 5Paragraph 5
  1430. 6Paragraph 6
  1431. 7Paragraph 7
  1432. Part 2: Changes in the law
  1433. 8Paragraph 8
  1434. Part 3: General
  1435. Capital expenditure
  1436. 9Paragraph 9
  1437. Exclusion of double relief
  1438. 10Paragraph 10
  1439. Part 4: Plant and machinery allowances
  1440. Introduction
  1441. 11Use for qualifying activity of plant or machinery provided for other purposes
  1442. 12Use for qualifying activity of plant or machinery which is a gift
  1443. Qualifying expenditure
  1444. 13Buildings, structures and land
  1445. First-year qualifying expenditure
  1446. 14Paragraph 14 Repealed
  1447. Hire-purchase and similar contracts
  1448. 15Plant or machinery acquired under hire purchase etc.
  1449. 16Plant or machinery on hire purchase etc.: fixtures
  1450. 17Plant or machinery provided by lessee
  1451. Computer software
  1452. 18Software and rights to software
  1453. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
  1454. 19Paragraph 19 Repealed
  1455. Long-life assets
  1456. 20Long-life asset expenditure
  1457. Overseas leasing
  1458. 21Meaning of “overseas leasing”
  1459. 22Recovery of first-year allowances in case of joint lessees
  1460. 23Letting ships or aircraft to obtain old first-year allowance not a qualifying purpose
  1461. Ships: deferments etc.
  1462. 24Further registration requirement
  1463. Mining and oil industries
  1464. 25Pre-trading expenditure on mineral exploration and access
  1465. 26Abandonment expenditure incurred before cessation of ring fence trade
  1466. 27Abandonment expenditure incurred after cessation of ring fence trade
  1467. 28Oil production sharing contracts
  1468. Fixtures
  1469. 29Meaning of “interest in land” for purposes of Chapter 14 of Part 2 (fixtures)
  1470. 30Equipment lessors
  1471. 31Equipment lessee has qualifying activity etc.
  1472. 32Equipment lessor has right to sever fixture that is not part of building
  1473. 33Equipment lease is part of affordable warmth programme
  1474. 34Purchaser of land giving consideration for fixture
  1475. 35Purchaser of land discharging obligations of equipment lessee
  1476. 36Incoming lessee where lessor entitled to allowances
  1477. 37Incoming lessee where lessor not entitled to allowances
  1478. 38Fixture on which a plant and machinery allowance has been claimed
  1479. 39Fixture on which industrial buildings allowance has been made
  1480. 40Fixture on which research and development allowance has been made
  1481. 41Disposal value in relation to fixtures: general
  1482. Assets provided or used only partly for qualifying activity
  1483. 42Effect of significant reduction in use for purposes of qualifying activity
  1484. Anti-avoidance
  1485. 43Relevant transactions: sale, hire-purchase (etc.) and assignment
  1486. 44Hire purchase etc. and finance leases
  1487. 45Sale and finance leasebacks
  1488. Additional VAT liabilities and rebates
  1489. 46Paragraph 46 Repealed
  1490. 47Paragraph 47 Repealed
  1491. 48Paragraph 48 Repealed
  1492. 49Paragraph 49 Repealed
  1493. 50Paragraph 50 Repealed
  1494. 51Paragraph 51 Repealed
  1495. Supplementary provisions
  1496. 52Successions by beneficiaries
  1497. 53Paragraph 53
  1498. General
  1499. 54Vehicles provided by employees in 1990-91
  1500. 55Certain expenditure incurred before 6th April 1976
  1501. Part 5: Industrial buildings allowances
  1502. Industrial buildings
  1503. 56Bridge undertakings Repealed
  1504. 57Building used by more than one licensee Repealed
  1505. 58Qualifying hotels Repealed
  1506. 59Non-industrial part of building disregarded Repealed
  1507. Qualifying expenditure
  1508. 60Purchase of used building from developer Repealed
  1509. 61Qualifying enterprise zone expenditure Repealed
  1510. 62Paragraph 62 Repealed
  1511. 63Paragraph 63 Repealed
  1512. Initial allowances
  1513. 64Building occupied by qualifying licensee Repealed
  1514. 65Grants affecting entitlement to initial allowances Repealed
  1515. Writing-down allowances
  1516. 66Basic rule for calculating amount of allowance Repealed
  1517. 67Calculation of amount after relevant event Repealed
  1518. Balancing adjustments
  1519. 68When balancing adjustments are made Repealed
  1520. 69Net allowance given Repealed
  1521. 70Paragraph 70 Repealed
  1522. 71Balancing adjustment on realisation of capital value Repealed
  1523. Writing off qualifying expenditure
  1524. 72Writing off qualifying expenditure when building not an industrial building Repealed
  1525. 73Crown or other person not within the charge to tax entitled to the relevant interest Repealed
  1526. Highway undertakings
  1527. 74Special provisions relating to highway concessions Repealed
  1528. Additional VAT liabilities and rebates
  1529. 75Additional VAT liabilities and initial allowances: 1992-93 cases Repealed
  1530. 76Additional VAT liabilities and initial allowances: further case Repealed
  1531. 771992-93 qualifying expenditure Repealed
  1532. Supplementary provisions
  1533. 78Arrangements having an artificial effect on pricing Repealed
  1534. General
  1535. 79Expenditure on preparatory work on land where building used before 6th April 1956 Repealed
  1536. Part 6: Agricultural buildings allowances
  1537. 80Overall limit on balancing charge Repealed
  1538. 81Meaning of “freehold interest in land” for purposes of Part 4 Repealed
  1539. 82Exclusion of expenditure incurred before 1st April 1986 Repealed
  1540. 83The writing-down period Repealed
  1541. Part 7: Mineral extraction allowances
  1542. Qualifying expenditure on acquiring a mineral asset
  1543. 84Qualifying expenditure where buildings or structures cease to be used
  1544. Qualifying expenditure: second-hand assets
  1545. 85Claims before 26th November 1996 in respect of acquisition of mineral asset owned by previous trader
  1546. 86Acquisition of oil licence from non-trader before 13th September 1995
  1547. 87Restrictions on qualifying expenditure in case of UK oil licence and certain other assets inapplicable for expenditure pre-16th July 1985
  1548. 88Expenditure incurred pre-1st April 1986
  1549. Part 8: Research and development allowances
  1550. 89Expenditure incurred partly on research and development
  1551. 90References to research and development in relation to new trades
  1552. 91Disposal of oil licences
  1553. Part 9: Patent allowances
  1554. Expenditure incurred before 1st April 1986
  1555. 92Scope of paragraphs 93 to 101
  1556. 93Qualifying expenditure and unrelieved qualifying expenditure
  1557. 94Entitlement to writing-down allowances
  1558. 95The writing-down period
  1559. 96Calculation of writing-down allowances
  1560. 97End of writing-down allowances
  1561. 98Reduced writing-down allowance
  1562. 99Balancing allowance on sale or expiry of patent rights
  1563. 100Balancing charges
  1564. 101Giving effect to allowances and charges
  1565. Supplementary provisions
  1566. 102Limit on qualifying expenditure
  1567. Part 10: Dredging allowances
  1568. 103Writing-down allowances
  1569. 104Balancing allowances
  1570. 105The writing-down period
  1571. Part 11: Contributions
  1572. 106Regional development grants
  1573. 107Contributions not made by public bodies and not eligible for tax relief
  1574. 108Conditions for allowances
  1575. 109Agricultural buildings
  1576. 110Paragraph 110 Repealed
  1577. Part 12: Supplemental
  1578. 111Transfer of insurance company business
  1579. 112Election regarding sale consideration
  1580. Part 13: Other enactments
  1581. 113Paragraph 113
  1582. 114Paragraph 114 Repealed
  1583. 115Paragraph 115
  1584. 116Paragraph 116
  1585. 117Paragraph 117
  1586. Schedule 4: Repeals