http://www.legislation.gov.uk/ukpga/1990/1/section/73/enactedCapital Allowances Act 1990Motor sportsKing's Printer of Acts of Parliament2021-08-02Part IIMachinery and PlantChapter VIIISupplementary Provisions
73Manner of making allowances and charges1

Subject to subsection (2) below, any allowance or charge made to or on any person under this Part shall be made to or on that person in taxing his trade.

2

Any allowance made by virtue of section 61(1) shall be made by way of discharge or repayment of tax, and, subject to subsection (3) below and section 67(3), shall be available primarily against income from the letting of machinery or plant; and effect shall be given to any charge made by virtue of section 61(1)—

a

if a charge to income tax, by making the charge under Case VI of Schedule D,

b

if a charge to corporation tax, by treating the amount on which the charge is to be made as income from the letting of machinery or plant.

3

Where an allowance falling to be made for any chargeable period by virtue of section 61(1) is in respect of expenditure on the provision of machinery or plant which for the whole or any part of that period or its basis period is not used for the purposes of a trade carried on by the lessee, that allowance or, as the case may require, a proportionate part thereof shall be available primarily against income from the letting of that machinery or plant only.

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<heading>Supplementary Provisions</heading>
<section eId="section-73">
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<p>Subject to subsection (2) below, any allowance or charge made to or on any person under this Part shall be made to or on that person in taxing his trade.</p>
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<p>Any allowance made by virtue of section 61(1) shall be made by way of discharge or repayment of tax, and, subject to subsection (3) below and section 67(3), shall be available primarily against income from the letting of machinery or plant; and effect shall be given to any charge made by virtue of section 61(1)—</p>
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<p>Where an allowance falling to be made for any chargeable period by virtue of section 61(1) is in respect of expenditure on the provision of machinery or plant which for the whole or any part of that period or its basis period is not used for the purposes of a trade carried on by the lessee, that allowance or, as the case may require, a proportionate part thereof shall be available primarily against income from the letting of that machinery or plant only.</p>
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