Regulation 10 Capital Allowances Act 2001I1

United Kingdom

(1)

The Capital Allowances Act 2001^f1 is amended as follows.

(2)

In section 51G(7)^f2, in the definition of “NACE classification” for the words “from time to time” substitute “in EU law”.

(3)

In section 266(8) for “transfer of UK trade to a company in another member State” substitute “transfer or division of UK business”.

(4)

In section 560(3) for “transfer of a UK trade to a company in another member State” substitute “transfer or division of UK business”.

(5)

In section 561^f3—

(a)

in subsection (1)(a)—

(i)

for “member State” substitute “relevant state”;

(ii)

for “member States” substitute “relevant states”;

(b)

in subsection (4) for “member State” substitute “relevant state”;

(c)

after subsection (4) insert—

“(4A)
In this section “relevant state” means the United Kingdom or a member State.”.

(6)

In section 564(4) for “transfer of a UK trade to a company in another member State” substitute “transfer or division of UK business”.

(7)

In section 567(5) for “transfer of a UK trade to a company in another member State” substitute “transfer or division of UK business”.

(8)

In section 573(4) for “transfer of a UK trade to a company resident in another member State” substitute “transfer or division of UK business”.

Annotations

I1: Reg. 10 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1

f1: 2001 c. 2.
f2: Section 51G(7) was inserted by paragraph 3 of Schedule 24 to the Finance Act 2008 (c. 9).
f3: Section 561(1) was substituted by S.I. 2007/3186.