# Capital Allowances Act 2001, Section 127: Single ship pool


(1) Qualifying expenditure incurred on the provision of a ship for the purposes of a qualifying activity, if allocated to a pool, must be allocated to a single asset pool (a “single ship pool”).
(2) Subsection (1) is subject to the exceptions given in section 128 and any election under section 129 to use the appropriate non-ship pool.
(3) In this Chapter “the appropriate non-ship pool”, in relation to a ship, means the pool to which the expenditure incurred on the provision of the ship would be allocated, or would have been allocated, apart from this Chapter.

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Source: https://www.legislation.gov.uk/ukpga/2001/2/section/127 (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/section-127
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.