# Capital Allowances Act 2001, Section 148: Exclusions: object to secure deferment


Expenditure on the provision of a ship is not expenditure on new shipping if the object, or one of the main objects, of—
(a) the transaction by which the ship was provided for the purposes of a qualifying activity carried on by the person who incurred the expenditure,
(b) any series of transactions of which that transaction was one, or
(c) any transaction in such a series,
was to secure the deferment of a balancing charge under section 135.

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Source: https://www.legislation.gov.uk/ukpga/2001/2/section/148 (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/section-148
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.