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The Capital Allowances (Environmentally Beneficial Plant and Machinery) (Amendment) Order 2015

S.I. 2015/1509 · Made 13 July 2015

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Income Tax

Corporation Tax

Made 13th July 2015

Laid before the House of Commons 14th July 2015

Coming into force 4th August 2015

The Treasury make the following Order in exercise of the powers conferred by section 45H(3) to (5) of the Capital Allowances Act 2001f1.

Annotations to the whole text

Footnotes

f1

2001 c. 2; section 45H was inserted by paragraph 3 of Schedule 30 to the Finance Act 2003 (c. 14).

Contents

  1. 1Citation and commencement
  2. 2Amendment of the Capital Allowances (Environmentally Beneficial Plant and Machinery) Order 2003
  3. 3Amendment of the Capital Allowances (Environmentally Beneficial Plant and Machinery) Order 2003
  4. Signature
  5. Explanatory note

1Citation and commencement

This Order may be cited as the Capital Allowances (Environmentally Beneficial Plant and Machinery) (Amendment) Order 2015 and comes into force on 4th August 2015.

2Amendment of the Capital Allowances (Environmentally Beneficial Plant and Machinery) Order 2003

The Capital Allowances (Environmentally Beneficial Plant and Machinery) Order 2003f1 is amended as follows.

3Amendment of the Capital Allowances (Environmentally Beneficial Plant and Machinery) Order 2003

In article 2 (interpretation) in the definitions of “Water Technology Criteria List” and “Water Technology Product List”—

(a)

for “1st July 2014” substitute “28th June 2015” in both places, and

(b)

for “2nd July 2014” substitute “7th July 2015” in both places.

Signature

Charlie Elphicke

George Hollingbery

Two of the Lords Commissioners for Her Majesty’s Treasury

13th July 2015

Explanatory note

(This note is not part of the Order)

This Order amends the Capital Allowances (Environmentally Beneficial Plant and Machinery) Order 2003 (S.I. 2003/2076) (the “Principal Order”). The Principal Order implemented legislation to introduce a scheme for 100% first-year allowances to encourage businesses to invest in environmentally beneficial plant and machinery (as defined by section 45H of the Capital Allowances Act 2001 (c. 2)).

Section 45H enables the Treasury to specify qualifying plant and machinery by order by reference to a description or criteria given by the Secretary of State in a technology or product list. The Secretary of State for the Environment, Food and Rural Affairs has issued the Water Technology Criteria List and Water Technology Product List. These lists have been revised and replaced by new lists issued on 7th July 2015.

Article 3 amends the definitions of the “Water Technology Criteria List” and the “Water Technology Product List” to refer to the new lists, which are available at https://www.gov.uk/government/publications/water-efficient-enhanced-capital-allowances.

A Tax Information and Impact Note covering this instrument was published on 15th July 2015 and is available at: https://www.gov.uk/government/collections/budget-2015-hm-revenue-and-customs#tax-information-and-impact-notes-tiins. It remains an accurate summary of the impacts that apply to this instrument.