{
  "url": "https://openlegislation.uk/finance-act-2000/schedule-22/paragraph-94",
  "json_url": "https://openlegislation.uk/finance-act-2000/schedule-22/paragraph-94.json",
  "legislation": "ukpga/2000/17",
  "legislation_title": "Finance Act 2000",
  "legislation_url": "https://openlegislation.uk/finance-act-2000",
  "path": "schedule/22/paragraph/94",
  "kind": "paragraph",
  "number": "94",
  "heading": null,
  "text": "(1) Where the lessor under the ... lease is entitled to capital allowances in respect of expenditure on the provision of the ship, the following provisions apply.\n(2) There is no entitlement to any annual investment allowance or first-year allowance.\n(3) The lessor is entitled—\n(a) in respect of the first £100 million of the cost of providing the ship, to writing-down allowances at the rate determined under sub-paragraph (3A) on the reducing balance, and\n(b) in respect of the next £100 million, to writing-down allowances at the rate specified in section 104D(1) of the Capital Allowances Act 2001 on the reducing balance.\n(3A) The rate mentioned in sub-paragraph (3)(a) is—\n(a) if the rate of the writing down allowance to which the lessor would be entitled in respect of the expenditure apart from this paragraph is that specified in section 56(1) of the Capital Allowances Act 2001, that rate, and\n(b) otherwise, the rate specified in section 104D(1) of that Act.\n(4) The expenditure ... shall be allocated to separate pools in accordance with sub-paragraph (4A) and dealt with under Part 2 of the Capital Allowances Act 2001 in the same way as expenditure allocated to a class pool.\n...\n(4A) The expenditure is to be allocated to the following pools—\n(a) to the extent that it is expenditure in respect of which the lessor is entitled to writing down allowance at the rate specified in section 56(1) of the Capital Allowances Act 2001, a pool to be known as “the tonnage tax (main rate) pool”, and\n(b) to the extent that it is expenditure in respect of which the lessor is entitled to writing down allowance at the rate specified in section 104D(1) of that Act, a pool to be known as “the tonnage tax (special rate) pool”.\n(5) If the cost of providing the ship exceeds £200 million, the lessor is not entitled to capital allowances in respect of the excess.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in Sch. 22 para. 94(1) repealed (10.7.2003) (with effect in accordance with Sch. 32 para. 3 of the amending Act) by Finance Act 2003 (c. 14), Sch. 32 para. 1(2), Sch. 43 Pt. 3(11) (with Sch. 32 para. 4)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 22 para. 94(2) inserted (with effect in accordance with Sch. 24 para. 23 of the amending Act) by Finance Act 2008 (c. 9), Sch. 24 para. 19(3)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Sum in Sch. 22 para. 94(3) substituted (with effect in accordance with s. 10(4) of the amending Act) by Finance Act 2024 (c. 3), s. 10(2)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in Sch. 22 para. 94(3)(a) substituted (with effect in accordance with s. 57(8)-(9) of the amending Act) by Finance Act 2011 (c. 11), s. 57(2)(a)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in Sch. 22 para. 94(3)(b) substituted (with effect in accordance with s. 57(8)-(9) of the amending Act) by Finance Act 2011 (c. 11), s. 57(2)(b)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Sch. 22 para. 94(3A) inserted (with effect in accordance with s. 57(8)-(9) of the amending Act) by Finance Act 2011 (c. 11), s. 57(2)(c)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in Sch. 22 para. 94(4) omitted (with effect in accordance with s. 57(8)-(9) of the amending Act) by virtue of Finance Act 2011 (c. 11), s. 57(2)(d)(i)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in Sch. 22 para. 94(4) inserted (with effect in accordance with s. 57(8)-(9) of the amending Act) by Finance Act 2011 (c. 11), s. 57(2)(d)(ii)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in Sch. 22 para. 94(4) substituted (22.3.2001 with effect as mentioned in s. 579(1) of the amending Act) by 2001 c. 2, ss. 578, 579, Sch. 2 para. 108(27)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in Sch. 22 para. 94(4) omitted (with effect in accordance with s. 57(8)-(9) of the amending Act) by virtue of Finance Act 2011 (c. 11), s. 57(2)(d)(iii)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Sch. 22 para. 94(4A) inserted (with effect in accordance with s. 57(8)-(9) of the amending Act) by Finance Act 2011 (c. 11), s. 57(2)(e)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Sum in Sch. 22 para. 94(5) substituted (with effect in accordance with s. 10(4) of the amending Act) by Finance Act 2024 (c. 3), s. 10(3)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Sch. 22 para. 94(3)(a) modified (with effect in accordance with s. 10(8)-(13) of the amending Act) by Finance Act 2011 (c. 11), s. 10(5)-(7)"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "Sch. 22 para. 94(3)(b) modified (with effect in accordance with s. 10(8)-(13) of the amending Act) by Finance Act 2011 (c. 11), s. 10(5)-(7)"
    },
    {
      "type": "C",
      "label": "C3",
      "text": "Sch. 22 para. 94(4) modified (with effect in accordance with s. 10(8)-(13) of the amending Act) by Finance Act 2011 (c. 11), s. 10(5)-(7)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/17/schedule/22/paragraph/94",
    "retrieved_at": "2026-10-29T09:21:00.128981+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."
}