Paragraph 10

United Kingdom

(1)

F1Subject to paragraph 12 below, if, in an accounting period falling before the beginning of the first accounting period—

F2(a)

in respect of which F3an apportionment under section 747(3) falls to be made, F4. . .

(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

the company incurred any capital expenditure on the provision of F5plant or machinery for the purposes of its trade, that plant or machinery shall be assumed, for the purposes of Part 2 of the Capital Allowances Act, to have been provided for purposes wholly other than those of the trade and not to have been brought into use for the purposes of that trade until the beginning of that first accounting period, and F6section 13 of that Act (use for qualifying activity of plant or machinery provided for other purposes) shall apply accordingly.

(2)

This paragraph shall be construed as one with F7Part 2 of the Capital Allowances Act.

Annotations

Textual amendments

F1: Words in Sch. 24 para. 10(1) substituted (with effect in accordance with Sch. 17 para. 37 of the amending Act) by Finance Act 1998 (c. 36), Sch. 17 para. 21(a); S.I. 1998/3173, art. 2
F2: Words in Sch. 24 para. 10(1) substituted (with effect in accordance with s. 182 of the amending Act) by Finance Act 1996 (c. 8), Sch. 36 para. 3(10)
F3: Words in Sch. 24 para. 10(1)(a) substituted (with effect in accordance with Sch. 17 para. 37 of the amending Act) by Finance Act 1998 (c. 36), Sch. 17 para. 21(b); S.I. 1998/3173, art. 2
F4: Sch. 24 para. 10(1)(b) and preceding word omitted (with effect in accordance with Sch. 16 para. 6 of the repealing Act) by virtue of Finance Act 2009 (c. 10), Sch. 16 para. 2(6)(g) (with Sch. 16 paras. 7, 8)
F5: Words in Sch. 24 para. 10(1) substituted (with effect in accordance with s. 579 of the amending Act) by Capital Allowances Act 2001 (c. 2), Sch. 2 para. 66(1)(a)
F6: Words in Sch. 24 para. 10(1) substituted (with effect in accordance with s. 579 of the amending Act) by Capital Allowances Act 2001 (c. 2), Sch. 2 para. 66(1)(b)
F7: Words in Sch. 24 para. 10(2) substituted (with effect in accordance with s. 579 of the amending Act) by Capital Allowances Act 2001 (c. 2), Sch. 2 para. 66(2)

Notes on Schedule 24

Marginal citations

M1: Source-1984 Sch. 16, 1985 Sch. 14 16

Modifications

C1: Sch. 24 modified (28.7.2000) by Finance Act 2000 (c. 17), Sch. 22 para. 54(2)-(5)

Notes on Capital allowances and expenditure on car hire

Textual amendments

F1: Words in cross-heading relating to Sch. 24 para. 11A inserted (with effect in accordance with s. 579 of the amending Act) by virtue of Capital Allowances Act 2001 (c. 2), Sch. 2 para. 66(3)(a)