# Income and Corporation Taxes Act 1988, Paragraph 10

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

(1) Subject to paragraph 12 below, if, in an accounting period falling before the beginning of the first accounting period—
(a) in respect of which an apportionment under section 747(3) falls to be made, . . .
(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
the company incurred any capital expenditure on the provision of plant 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 section 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 Part 2 of the Capital Allowances Act.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/24/paragraph/10 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-24/paragraph-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.