{
  "url": "https://openlegislation.uk/capital-allowances-act-2001/section-2",
  "json_url": "https://openlegislation.uk/capital-allowances-act-2001/section-2.json",
  "legislation": "ukpga/2001/2",
  "legislation_title": "Capital Allowances Act 2001",
  "legislation_url": "https://openlegislation.uk/capital-allowances-act-2001",
  "path": "section/2",
  "kind": "section",
  "number": "2",
  "heading": "General means of giving effect to capital allowances",
  "text": "(1) Allowances and charges are to be given effect—\n(a) for income tax purposes, in calculating income for a chargeable period, and\n(b) for corporation tax purposes, in calculating profits for a chargeable period.\n(2) For the meaning of “chargeable period”, see section 6.\n(3) Subsection (1) needs to be read with the following provisions about giving effect to allowances and charges—\nsections 247 to 262 (plant and machinery allowances);\nsections 270HA to 270HI (structures and buildings allowances);\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nsections 360Z and 360Z1 (business premises renovation allowances)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\nsection 432 (mineral extraction allowances);\nsection 450 (research and development allowances);\nsection 463 (know-how allowances);\nsections 478 to 480 (patent allowances);\nsection 489 (dredging allowances);\nsection 529 (assured tenancy allowances).\n(4) In subsection (1)(b) “profits” has the same meaning as in Part 2 of CTA 2009 (see section 2(2) of that Act).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in s. 2(3) substituted (with effect in accordance with s. 33(5) of the amending Act) by Finance Act 2019 (c. 1), s. 33(2)(b)(i)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 2(3) inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 3(3)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 2(3) omitted (with effect in accordance with Sch. 27 para. 30(1) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 27 para. 3(a)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 2(3) inserted (with effect in accordance with s. 92 of the amending Act) by Finance Act 2005 (c. 7), Sch. 6 para. 3; S.I. 2007/949, art. 2"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 2(3) omitted (with effect in accordance with Sch. 27 para. 30(1) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 27 para. 3(b)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "S. 2(3) entry omitted (with effect in accordance with Sch. 39 para. 40 of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 39 para. 38(3) (with Sch. 39 paras. 41, 42)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in s. 2(4) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 475 (with Sch. 2 Pts. 1, 2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2001/2/section/2",
    "retrieved_at": "2026-10-29T09:20:17.739129+00:00",
    "licence": "OGL-UK-3.0",
    "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
    "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
  }
}