{
  "url": "https://openlegislation.uk/capital-allowances-act-2001/section-262AD",
  "json_url": "https://openlegislation.uk/capital-allowances-act-2001/section-262AD.json",
  "legislation": "ukpga/2001/2",
  "legislation_title": "Capital Allowances Act 2001",
  "legislation_url": "https://openlegislation.uk/capital-allowances-act-2001",
  "path": "section/262AD",
  "kind": "section",
  "number": "262AD",
  "heading": "Co-ownership schemes: effect of election for participants",
  "text": "(1) This section has effect where an election under section 262AB is made by the operator of a co-ownership ... contractual scheme.\n(2) For the purposes of sections 61(1) and 196(1) (disposal events and values)—\n(a) a participant in the scheme is to be regarded as ceasing to own the participant's interest in the property subject to the scheme at the beginning of the first accounting period of the scheme for which the election has effect, and\n(b) the disposal value to be brought into account in relation to that cessation of ownership is the tax written-down value.\n(3) In subsection (2)(b) “tax written-down value” means such amount as would give rise to neither a balancing allowance nor a balancing charge.\n(4) For the purposes of subsection (3) assume that—\n(a) expenditure to which the disposal value relates is in its own pool;\n(b) profits or gains arising to all participants from the qualifying activity are, or (if there were any) would be, chargeable to tax.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Ss. 262AA-262AF and cross-heading inserted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), s. 40"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Word in s. 262AD(1) omitted (19.3.2025) by virtue of The Co-ownership Contractual Schemes (Tax) Regulations 2025 (S.I. 2025/200), regs. 1(2), 55(6) (with reg. 63)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2001/2/section/262AD",
    "retrieved_at": "2026-10-29T09:20:17.739129+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "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."
}