Section 1233 Excess capital allowancesC1C2
United Kingdom
This section applies if a company with investment business is entitled to allowances by virtue of section 15(1)(g) F1or 270CA(f) of CAA 2001 (qualifying activities include managing investments).
So far as effect cannot be given to the allowances under section 253(2) F2or 270HE(2) (as the case may be) of CAA 2001, the allowances are treated for the purposes of Chapter 2—
as expenses of management, and
as referable to the accounting period for which the company is entitled to the allowances.
Annotations
Textual amendments
- F1
Words in s. 1233(1) inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 7(3)(a)
- F2
Words in s. 1233(2) inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 7(3)(b)
Modifications
- C1
S. 1233 modified by 2010 c. 4, s. 676AJ(3) (as inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 75)
- C2
S. 1233 restricted by 2001 c. 2, s. 270HE (as inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 2)