Section 7 Temporary increase in annual investment allowance

United Kingdom

(1)

In relation to expenditure incurred during the period F1beginning with 1 January 2013 and ending with the specified date , section 51A of CAA 2001 (entitlement to annual investment allowance) has effect as if in subsection (5) for “£25,000” there were substituted “ £250,000 ”.

(1A)

F2The specified date is —

(a)

for the purposes of corporation tax, 31 March 2014, and

(b)

for the purposes of income tax, 5 April 2014.

(2)

Schedule 1 contains provision about chargeable periods which straddle 1 January 2013 F3....

Annotations

Textual amendments

F1: Words in s. 7(1) substituted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 2 para. 6(2)
F2: S. 7(1A) inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 2 para. 6(3)
F3: Words in s. 7(2) omitted (17.7.2014) by virtue of Finance Act 2014 (c. 26), Sch. 2 para. 6(4)