# Finance Act 2002, Section 63: First-year allowances for expenditure wholly for a ring fence trade

Extent: E+W+S+N.I.

(1) Schedule 21 to this Act shall have effect.
(2) In that Schedule—
(a) Part 1 makes provision for and in connection with first-year allowances under Part 2 of the Capital Allowances Act 2001 in respect of expenditure incurred by a company on the provision of plant or machinery for use wholly for the purposes of a ring fence trade chargeable to tax under section 330(1) of the Corporation Tax Act 2010; and
(b) Part 2 makes provision for and in connection with first-year allowances under Part 5 of that Act (mineral extraction allowances) in respect of expenditure incurred by a company wholly for the purposes of such a trade.
(3) The amendments made by that Schedule have effect in relation to expenditure incurred on or after 17th April 2002.

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Source: https://www.legislation.gov.uk/ukpga/2002/23/section/63 (the official version)
Page: https://openlegislation.uk/finance-act-2002/section-63
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.