S. 76(2A)(2B) inserted (for any chargeable period or its basis period ending on or after 06.04.1990) by Finance Act 1991 (c. 31), s. 59, Sch. 14 Pt. II para. 11(4).

Words in s. 76(4) substituted (for any chargeable period or its basis period ending on or after 06.04.1990) by Finance Act 1991 (c. 31), s. 59, Sch. 14 Pt. II para. 11(5).

Pt. II (ss. 22–83) modified by Finance Act 1990 (c. 29), s. 87(3)(4)

Pt. II modified (19.9.1994) by Coal Industry Act 1994 (c. 21), s. 68(4), Sch. 4 para. 22; S.I. 1994/2189, art. 2, Sch.

Pt. 2 modified (8.11.1995) by Atomic Energy Authority Act 1995 (c. 37), Sch. 3 para. 16

Pt. 2 modified (8.11.1995) by Atomic Energy Authority Act 1995 (c. 37), Sch. 3 para. 20

Pt. 2 modified (24.7.1996) by Broadcasting Act 1996 (c. 55), s. 149(1)(f), Sch. 7 para. 14(1) (with Sch. 7 para. 14(2))

Pt. 2 modified (24.7.1996) by Broadcasting Act 1996 (c. 55), s. 149(1)(f), Sch. 7 para. 15(2)

Pt. 2 modified (24.7.1996) by Broadcasting Act 1996 (c. 55), s. 149(1)(f), Sch. 7 para. 15(3)

Pt. 2 restricted (24.7.1996) by Broadcasting Act 1996 (c. 55), s. 149(1)(f), Sch. 7 para. 16

Pt. 2 modified (with application in accordance with Sch. 12 para. 11(1) of the amending Act) by Finance Act 1997 (c. 16), Sch. 12 para. 11(3)(b) (with Sch. 12 paras. 13, 14)

S. 76(7) inserted (with effect in accordance with s. 46(3) of the amending Act) by Finance (No. 2) Act 1997 (c. 58), s. 46(1)(b) (with s. 46(3)(a)-(c))

S. 76(3) repealed (with effect in accordance with s. 85(9) of the amending Act) by Finance Act 1998 (c. 36), s. 85(8)(a), Sch. 27 Pt. 3(18)

Words in s. 76(4) substituted (with effect in accordance with s. 85(9) of the amending Act) by Finance Act 1998 (c. 36), s. 85(8)(b)

http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31Capital Allowances Act 1990 (repealed)An Act to consolidate certain enactments relating to capital allowances.1990-03-19texttext/xmlenStatute Law Database2024-05-17Expert Participation1998-07-31Part II Machinery and PlantChapter VIII Supplementary Provisions
76 Extension of section 75.1

Paragraph (b) of each of subsections (1) to (3) of section 75 shall have effect as if the reference to the machinery or plant continuing to be used for the purposes of a trade carried on by the person there mentioned included a reference to its being used after the date of the sale, the making of the contract or the assignment of the benefit of the contract (as the case may be) for the purposes of a trade carried on by that person or another person who is connected with him (other than the buyer, the person entering into the contract or the assignee) without having been used since that date for the purposes of any other trade except that of leasing machinery or plant.

2

In a case in which no disposal value falls to be brought into account as mentioned in subsection (1) of section 75, that subsection shall have effect as if for the reference to the disposal value to be so brought into account there were substituted a reference to an amount equal to whichever of the following is the smallest—

a

the open market value of the machinery or plant;

b

where capital expenditure was incurred by the seller on the provision of the machinery or plant, the amount of that expenditure;

c

where capital expenditure was incurred by any person connected with the seller on the provision of the machinery or plant, the amount of the expenditure incurred by that person.

2A

In any case where—

a

section 75(1) has effect with the modification specified in paragraph (a) of subsection (2) above, but

b

the open market value of the machinery or plant in question is determined for the purposes of those provisions inclusive of value added tax,

section 75(1) as so modified shall have effect with the omission of the words “the aggregate of" and “and any such additional VAT liability".

2B

For the purposes of paragraphs (b) and (c) of subsection (2) above—

a

any additional VAT liability incurred by the seller or, as the case may be, any person connected with him in respect of capital expenditure incurred on the provision of the machinery or plant shall be regarded as capital expenditure incurred on the provision of the machinery or plant, and

b

any additional VAT rebate made to the seller or, as the case may be, any person connected with him in respect of any such expenditure shall be regarded as reducing the amount of capital expenditure so incurred by him,

to the extent that the liability or rebate in question would not, apart from this subsection, fall to be so regarded.

3

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

4

Subsections (2), (2A) and (2B) above shall apply in relation to section 75(2) and (3) as they apply in relation to section 75(1) but taking references—

a

to the sale as references to the making of the contract and to the assignment of the benefit of the contract respectively;

b

to the seller as references to the person to whom the machinery or plant belongs and to the assignor respectively.

5

Neither subsection (1) nor subsection (2) of section 75 shall apply in relation to a sale or contract if the machinery or plant has never been used before the sale or the making of the contract and the business or part of the business of the seller or owner was the manufacture or supply of machinery or plant of that class and the sale was effected or the contract was made in the ordinary course of that business.

6

In this section—

a

open market value” in relation to any machinery or plant means an amount equal to the price which the machinery or plant would have fetched if sold in the open market; and

b

references to persons connected with each other shall be construed in accordance with section 839 of the principal Act.

7

This section has effect subject to the modifications made by section 76A in cases where there is a finance lease.

This XML file does not appear to have any style information associated with it. The document tree is shown below.
<akomaNtoso xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xsi:schemaLocation="http://docs.oasis-open.org/legaldocml/ns/akn/3.0 http://docs.oasis-open.org/legaldocml/akn-core/v1.0/cos01/part2-specs/schemas/akomantoso30.xsd">
<portion includedIn="http://www.legislation.gov.uk/id/ukpga/1990/1">
<meta>
<identification source="#source">
<FRBRWork>
<FRBRthis value="http://www.legislation.gov.uk/id/ukpga/1990/1"/>
<FRBRuri value="http://www.legislation.gov.uk/id/ukpga/1990/1"/>
<FRBRdate date="1990-03-19" name="enacted"/>
<FRBRauthor href="http://www.legislation.gov.uk/id/legislature/UnitedKingdomParliament"/>
<FRBRcountry value="GB-UKM"/>
<FRBRnumber value="1"/>
<FRBRname value="1990 c. 1"/>
<FRBRprescriptive value="true"/>
</FRBRWork>
<FRBRExpression>
<FRBRthis value="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31"/>
<FRBRuri value="http://www.legislation.gov.uk/ukpga/1990/1/1998-07-31"/>
<FRBRdate date="1998-07-31" name="validFrom"/>
<FRBRauthor href="#source"/>
<FRBRlanguage language="eng"/>
</FRBRExpression>
<FRBRManifestation>
<FRBRthis value="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31/data.akn"/>
<FRBRuri value="http://www.legislation.gov.uk/ukpga/1990/1/1998-07-31/data.akn"/>
<FRBRdate date="2024-11-09Z" name="transform"/>
<FRBRauthor href="http://www.legislation.gov.uk"/>
<FRBRformat value="application/akn+xml"/>
</FRBRManifestation>
</identification>
<lifecycle source="#source">
<eventRef date="1990-03-19" type="generation" eId="enacted-date" source="#source"/>
<eventRef date="1991-02-01" type="amendment" source="#source"/>
<eventRef date="1991-07-25" type="amendment" source="#source"/>
<eventRef date="1997-07-31" type="amendment" source="#source"/>
<eventRef date="2001-04-01" type="amendment" source="#source"/>
<eventRef date="1997-03-19" eId="effective-date-1" source="#source"/>
<eventRef date="1998-07-31" eId="effective-date-2" source="#source"/>
<eventRef date="1999-02-15" eId="effective-date-3" source="#source"/>
<eventRef date="2001-04-01" eId="effective-date-4" source="#source"/>
</lifecycle>
<analysis source="#source">
<passiveModifications>
<textualMod type="insertion" eId="mod-d30p9165">
<source href="#"/>
<destination href="#section-76-2A"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p9219">
<source href="#c2137549"/>
<destination href="#section-76-4"/>
</textualMod>
<textualMod type="substitution" eId="mod-key-c97191d48e178b933d34c228356ac19a-1563554085107">
<source href="#key-c97191d48e178b933d34c228356ac19a"/>
<destination href="#section-76-4"/>
</textualMod>
<textualMod type="insertion" eId="mod-key-ff2cfa1325cfa03c53bccbd1d7fc2967-1563465706239">
<source href="#key-ff2cfa1325cfa03c53bccbd1d7fc2967"/>
<destination href="#section-76-7"/>
</textualMod>
</passiveModifications>
<restrictions source="#source">
<restriction refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#section-76" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#part-II" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#part-II-chapter-VIII" refersTo="#e+w+s+ni" type="jurisdiction"/>
</restrictions>
</analysis>
<temporalData source="#source">
<temporalGroup eId="period1">
<timeInterval start="#effective-date-2" refersTo="#period-concept1"/>
</temporalGroup>
<temporalGroup eId="period2">
<timeInterval start="#effective-date-2" end="#effective-date-1" refersTo="#period-concept2"/>
</temporalGroup>
<temporalGroup eId="period3">
<timeInterval start="#effective-date-2" end="#effective-date-3" refersTo="#period-concept3"/>
</temporalGroup>
<temporalGroup eId="period4">
<timeInterval start="#effective-date-2" end="#effective-date-4" refersTo="#period-concept4"/>
</temporalGroup>
</temporalData>
<references source="#source">
<TLCOrganization eId="source" href="http://www.legislation.gov.uk/id/publisher/StatuteLawDatabase" showAs="Statute Law Database"/>
<TLCLocation eId="e+w+s+ni" href="/ontology/jurisdictions/uk.EnglandWalesScotlandNorthernIreland" showAs="England, Wales, Scotland, Northern Ireland"/>
<TLCTerm eId="term-open-market-value" href="/ontology/term/uk.open-market-value" showAs="open market value"/>
<TLCConcept eId="period-concept1" href="/ontology/time/1998.07.31" showAs="since 1998-07-31"/>
<TLCConcept eId="period-concept2" href="/ontology/time/1998.07.31-1997.03.19" showAs="from 1998-07-31 until 1997-03-19"/>
<TLCConcept eId="period-concept3" href="/ontology/time/1998.07.31-1999.02.15" showAs="from 1998-07-31 until 1999-02-15"/>
<TLCConcept eId="period-concept4" href="/ontology/time/1998.07.31-2001.04.01" showAs="from 1998-07-31 until 2001-04-01"/>
</references>
<notes source="#source">
<note class="commentary F" eId="c2137548">
<p>
S. 76(2A)(2B) inserted
<em>(for any chargeable period or its basis period ending on or after 06.04.1990)</em>
by
<ref href="http://www.legislation.gov.uk/id/ukpga/1991/31">Finance Act 1991 (c. 31)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1991/31/section/59">s. 59</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1991/31/schedule/14/part/II/paragraph/11/4">Sch. 14 Pt. II para. 11(4)</ref>
.
</p>
</note>
<note class="commentary F" eId="c2137549">
<p>
Words in s. 76(4) substituted
<em>(for any chargeable period or its basis period ending on or after 06.04.1990)</em>
by
<ref href="http://www.legislation.gov.uk/id/ukpga/1991/31">Finance Act 1991 (c. 31)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1991/31/section/59">s. 59</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1991/31/schedule/14/part/II/paragraph/11/5">Sch. 14 Pt. II para. 11(5)</ref>
.
</p>
</note>
<note class="commentary C" eId="c2137277">
<p>
Pt. II (ss. 22–83) modified by
<ref href="http://www.legislation.gov.uk/id/ukpga/1990/29">Finance Act 1990 (c. 29)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1990/29/section/87/3/4">s. 87(3)(4)</ref>
</p>
</note>
<note class="commentary C" eId="key-5737942da7fdb29d36381b5e36338e56">
<p>
Pt. II modified (19.9.1994) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1994/21">Coal Industry Act 1994 (c. 21)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1994/21/section/68/4">s. 68(4)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1994/21/schedule/4/paragraph/22">Sch. 4 para. 22</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1994/2189">S.I. 1994/2189</ref>
, art. 2, Sch.
</p>
</note>
<note class="commentary C" eId="key-02c6a43dcf239fb883db5530b2473e22">
<p>
Pt. 2 modified (8.11.1995) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1995/37">Atomic Energy Authority Act 1995 (c. 37)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1995/37/schedule/3/paragraph/16">Sch. 3 para. 16</ref>
</p>
</note>
<note class="commentary C" eId="key-f708bf542fcbdcef63918e54b0c00293">
<p>
Pt. 2 modified (8.11.1995) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1995/37">Atomic Energy Authority Act 1995 (c. 37)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1995/37/schedule/3/paragraph/20">Sch. 3 para. 20</ref>
</p>
</note>
<note class="commentary C" eId="key-00065aca070c5cf60f1349c369ec48d8">
<p>
Pt. 2 modified (24.7.1996) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55">Broadcasting Act 1996 (c. 55)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55/section/149/1/f">s. 149(1)(f)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55/schedule/7/paragraph/14/1">Sch. 7 para. 14(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55/schedule/7/paragraph/14/2">Sch. 7 para. 14(2)</ref>
)
</p>
</note>
<note class="commentary C" eId="key-98f9c774e6f3f03186411acf663bccda">
<p>
Pt. 2 modified (24.7.1996) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55">Broadcasting Act 1996 (c. 55)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55/section/149/1/f">s. 149(1)(f)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55/schedule/7/paragraph/15/2">Sch. 7 para. 15(2)</ref>
</p>
</note>
<note class="commentary C" eId="key-290fdfe3b99bb5443f787458bcf7309e">
<p>
Pt. 2 modified (24.7.1996) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55">Broadcasting Act 1996 (c. 55)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55/section/149/1/f">s. 149(1)(f)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55/schedule/7/paragraph/15/3">Sch. 7 para. 15(3)</ref>
</p>
</note>
<note class="commentary C" eId="key-a905541d885fb74d4ae5b9c0c213e186">
<p>
Pt. 2 restricted (24.7.1996) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55">Broadcasting Act 1996 (c. 55)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55/section/149/1/f">s. 149(1)(f)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1996/55/schedule/7/paragraph/16">Sch. 7 para. 16</ref>
</p>
</note>
<note class="commentary C" eId="key-e86e0b901c623042c5cebe93eb79b996">
<p>
Pt. 2 modified (with application in accordance with Sch. 12 para. 11(1) of the amending Act) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1997/16">Finance Act 1997 (c. 16)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1997/16/schedule/12/paragraph/11/3/b">Sch. 12 para. 11(3)(b)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1997/16/schedule/12/paragraph/13">Sch. 12 paras. 13</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1997/16/schedule/12/paragraph/14">14</ref>
)
</p>
</note>
<note class="commentary F" eId="key-ff2cfa1325cfa03c53bccbd1d7fc2967">
<p>
S. 76(7) inserted (with effect in accordance with s. 46(3) of the amending Act) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1997/58">Finance (No. 2) Act 1997 (c. 58)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1997/58/section/46/1/b">s. 46(1)(b)</ref>
(with
<rref from="http://www.legislation.gov.uk/id/ukpga/1997/58/section/46/3/a" upTo="http://www.legislation.gov.uk/id/ukpga/1997/58/section/46/3/c">s. 46(3)(a)-(c)</rref>
)
</p>
</note>
<note class="commentary F" eId="key-c7f3f418f90c0cf3d2d0fdc34467c4f6">
<p>
S. 76(3) repealed (with effect in accordance with s. 85(9) of the amending Act) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1998/36">Finance Act 1998 (c. 36)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1998/36/section/85/8/a">s. 85(8)(a)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1998/36/schedule/27/part/III/18">Sch. 27 Pt. 3(18)</ref>
</p>
</note>
<note class="commentary F" eId="key-c97191d48e178b933d34c228356ac19a">
<p>
Words in s. 76(4) substituted (with effect in accordance with s. 85(9) of the amending Act) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1998/36">Finance Act 1998 (c. 36)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1998/36/section/85/8/b">s. 85(8)(b)</ref>
</p>
</note>
</notes>
<proprietary xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" xmlns:atom="http://www.w3.org/2005/Atom" source="#source">
<ukl:RestrictStartDate value="1998-07-31"/>
<ukl:RestrictEndDate value="1999-02-15"/>
<dc:identifier>http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31</dc:identifier>
<dc:title>Capital Allowances Act 1990 (repealed)</dc:title>
<dc:description>An Act to consolidate certain enactments relating to capital allowances.</dc:description>
<dc:date>1990-03-19</dc:date>
<dc:type>text</dc:type>
<dc:format>text/xml</dc:format>
<dc:language>en</dc:language>
<dc:publisher>Statute Law Database</dc:publisher>
<dc:modified>2024-05-17</dc:modified>
<dc:contributor>Expert Participation</dc:contributor>
<dct:valid>1998-07-31</dct:valid>
<atom:link rel="self" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31/data.xml" type="application/xml"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/resources" href="http://www.legislation.gov.uk/ukpga/1990/1/resources" title="More Resources"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/act" href="http://www.legislation.gov.uk/ukpga/1990/1/1998-07-31" title="whole act"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/introduction" href="http://www.legislation.gov.uk/ukpga/1990/1/introduction/1998-07-31" title="introduction"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/body" href="http://www.legislation.gov.uk/ukpga/1990/1/body/1998-07-31" title="body"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/schedules" href="http://www.legislation.gov.uk/ukpga/1990/1/schedules/1998-07-31" title="schedules"/>
<atom:link rel="alternate" type="application/rdf+xml" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31/data.rdf" title="RDF/XML"/>
<atom:link rel="alternate" type="application/akn+xml" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31/data.akn" title="AKN"/>
<atom:link rel="alternate" type="application/xhtml+xml" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31/data.xht" title="HTML snippet"/>
<atom:link rel="alternate" type="text/html" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31/data.htm" title="Website (XHTML) Default View"/>
<atom:link rel="alternate" type="text/csv" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31/data.csv" title="CSV"/>
<atom:link rel="alternate" type="application/pdf" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31/data.pdf" title="PDF"/>
<atom:link rel="alternate" type="application/akn+xhtml" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1998-07-31/data.html" title="HTML5 snippet"/>
<atom:link rel="http://purl.org/dc/terms/tableOfContents" hreflang="en" href="http://www.legislation.gov.uk/ukpga/1990/1/contents/1998-07-31" title="Table of Contents"/>
<atom:link rel="http://purl.org/dc/terms/replaces" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1997-07-31" title="1997-07-31"/>
<atom:link rel="http://purl.org/dc/terms/isReplacedBy" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/2001-04-01" title="2001-04-01"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/enacted" title="enacted"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1991-02-01" title="1991-02-01"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1991-07-25" title="1991-07-25"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/1997-07-31" title="1997-07-31"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76/2001-04-01" title="2001-04-01"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76" title="current"/>
<atom:link rel="up" href="http://www.legislation.gov.uk/ukpga/1990/1/1998-07-31" title="Entire legislation"/>
<atom:link rel="prev" href="http://www.legislation.gov.uk/ukpga/1990/1/section/75/1998-07-31" title="Provision; Section 75"/>
<atom:link rel="prevInForce" href="http://www.legislation.gov.uk/ukpga/1990/1/section/75/1998-07-31" title="Provision; Section 75"/>
<atom:link rel="next" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76A/1998-07-31" title="Provision; Section 76A"/>
<atom:link rel="nextInForce" href="http://www.legislation.gov.uk/ukpga/1990/1/section/76A/1998-07-31" title="Provision; Section 76A"/>
<ukm:PrimaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="primary"/>
<ukm:DocumentMainType Value="UnitedKingdomPublicGeneralAct"/>
<ukm:DocumentStatus Value="revised"/>
</ukm:DocumentClassification>
<ukm:Year Value="1990"/>
<ukm:Number Value="1"/>
<ukm:EnactmentDate Date="1990-03-19"/>
</ukm:PrimaryMetadata>
<ukm:Alternatives>
<ukm:Alternative Date="2008-03-02" URI="http://www.legislation.gov.uk/ukpga/1990/1/pdfs/ukpga_19900001_en.pdf" Title="Print Version"/>
</ukm:Alternatives>
<ukm:Statistics>
<ukm:TotalParagraphs Value="245"/>
<ukm:BodyParagraphs Value="214"/>
<ukm:ScheduleParagraphs Value="31"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="6"/>
</ukm:Statistics>
</proprietary>
</meta>
<portionBody period="#period1">
<part eId="part-II" period="#period3">
<num>
<noteRef href="#c2137277" marker="C1" class="commentary C"/>
<noteRef href="#key-5737942da7fdb29d36381b5e36338e56" marker="C2" class="commentary C"/>
<noteRef href="#key-f708bf542fcbdcef63918e54b0c00293" marker="C4" class="commentary C"/>
<noteRef href="#key-02c6a43dcf239fb883db5530b2473e22" marker="C3" class="commentary C"/>
<noteRef href="#key-00065aca070c5cf60f1349c369ec48d8" marker="C5" class="commentary C"/>
<noteRef href="#key-a905541d885fb74d4ae5b9c0c213e186" marker="C8" class="commentary C"/>
<noteRef href="#key-98f9c774e6f3f03186411acf663bccda" marker="C6" class="commentary C"/>
<noteRef href="#key-290fdfe3b99bb5443f787458bcf7309e" marker="C7" class="commentary C"/>
<noteRef href="#key-e86e0b901c623042c5cebe93eb79b996" marker="C9" class="commentary C"/>
Part II
</num>
<heading> Machinery and Plant</heading>
<chapter eId="part-II-chapter-VIII" period="#period2">
<num>Chapter VIII</num>
<heading> Supplementary Provisions</heading>
<section eId="section-76" period="#period4">
<num>76</num>
<heading> Extension of section 75.</heading>
<subsection eId="section-76-1">
<num>1</num>
<content>
<p>Paragraph (b) of each of subsections (1) to (3) of section 75 shall have effect as if the reference to the machinery or plant continuing to be used for the purposes of a trade carried on by the person there mentioned included a reference to its being used after the date of the sale, the making of the contract or the assignment of the benefit of the contract (as the case may be) for the purposes of a trade carried on by that person or another person who is connected with him (other than the buyer, the person entering into the contract or the assignee) without having been used since that date for the purposes of any other trade except that of leasing machinery or plant.</p>
</content>
</subsection>
<subsection eId="section-76-2">
<num>2</num>
<intro>
<p>In a case in which no disposal value falls to be brought into account as mentioned in subsection (1) of section 75, that subsection shall have effect as if for the reference to the disposal value to be so brought into account there were substituted a reference to an amount equal to whichever of the following is the smallest—</p>
</intro>
<paragraph eId="section-76-2-a">
<num>a</num>
<content>
<p>the open market value of the machinery or plant;</p>
</content>
</paragraph>
<paragraph eId="section-76-2-b">
<num>b</num>
<content>
<p>where capital expenditure was incurred by the seller on the provision of the machinery or plant, the amount of that expenditure;</p>
</content>
</paragraph>
<paragraph eId="section-76-2-c">
<num>c</num>
<content>
<p>where capital expenditure was incurred by any person connected with the seller on the provision of the machinery or plant, the amount of the expenditure incurred by that person.</p>
</content>
</paragraph>
</subsection>
<subsection eId="section-76-2A">
<num>
<noteRef href="#c2137548" marker="F1" class="commentary F"/>
<ins class="d30p9165 first">2A</ins>
</num>
<intro>
<p>
<ins class="d30p9165">In any case where—</ins>
</p>
</intro>
<paragraph eId="section-76-2A-a">
<num>
<ins class="d30p9165">a</ins>
</num>
<content>
<p>
<ins class="d30p9165">section 75(1) has effect with the modification specified in paragraph (a) of subsection (2) above, but</ins>
</p>
</content>
</paragraph>
<paragraph eId="section-76-2A-b">
<num>
<ins class="d30p9165">b</ins>
</num>
<content>
<p>
<ins class="d30p9165">the open market value of the machinery or plant in question is determined for the purposes of those provisions inclusive of value added tax,</ins>
</p>
</content>
</paragraph>
<wrapUp>
<p>
<ins class="d30p9165">section 75(1) as so modified shall have effect with the omission of the words “the aggregate of" and “and any such additional </ins>
<abbr class="Acronym" title="Value Added Tax">
<ins class="d30p9165">VAT</ins>
</abbr>
<ins class="d30p9165"> liability".</ins>
</p>
</wrapUp>
</subsection>
<subsection eId="section-76-2B">
<num>
<ins class="d30p9165">2B</ins>
</num>
<intro>
<p>
<ins class="d30p9165">For the purposes of paragraphs (b) and (c) of subsection (2) above—</ins>
</p>
</intro>
<paragraph eId="section-76-2B-a">
<num>
<ins class="d30p9165">a</ins>
</num>
<content>
<p>
<ins class="d30p9165">any additional </ins>
<abbr class="Acronym" title="Value Added Tax">
<ins class="d30p9165">VAT</ins>
</abbr>
<ins class="d30p9165"> liability incurred by the seller or, as the case may be, any person connected with him in respect of capital expenditure incurred on the provision of the machinery or plant shall be regarded as capital expenditure incurred on the provision of the machinery or plant, and</ins>
</p>
</content>
</paragraph>
<paragraph eId="section-76-2B-b">
<num>
<ins class="d30p9165">b</ins>
</num>
<content>
<p>
<ins class="d30p9165">any additional </ins>
<abbr class="Acronym" title="Value Added Tax">
<ins class="d30p9165">VAT</ins>
</abbr>
<ins class="d30p9165"> rebate made to the seller or, as the case may be, any person connected with him in respect of any such expenditure shall be regarded as reducing the amount of capital expenditure so incurred by him,</ins>
</p>
</content>
</paragraph>
<wrapUp>
<p>
<ins class="d30p9165 last">to the extent that the liability or rebate in question would not, apart from this subsection, fall to be so regarded.</ins>
</p>
</wrapUp>
</subsection>
<subsection eId="section-76-3">
<num>
<noteRef href="#key-c7f3f418f90c0cf3d2d0fdc34467c4f6" marker="F4" class="commentary F"/>
3
</num>
<content>
<p>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</p>
</content>
</subsection>
<subsection eId="section-76-4">
<num>4</num>
<intro>
<p>
<ins class="d30p9219 first">
<noteRef href="#c2137549" marker="F2" class="commentary attribute F"/>
Subsections (2), (2A)
</ins>
<ins class="d30p9219 last">
<ins class="substitution key-c97191d48e178b933d34c228356ac19a-1563554085107 first last">
<noteRef href="#key-c97191d48e178b933d34c228356ac19a" marker="F5" class="commentary attribute F"/>
and (2B)
</ins>
</ins>
above shall apply in relation to section 75(2) and (3) as they apply in relation to section 75(1) but taking references—
</p>
</intro>
<paragraph eId="section-76-4-a">
<num>a</num>
<content>
<p>to the sale as references to the making of the contract and to the assignment of the benefit of the contract respectively;</p>
</content>
</paragraph>
<paragraph eId="section-76-4-b">
<num>b</num>
<content>
<p>to the seller as references to the person to whom the machinery or plant belongs and to the assignor respectively.</p>
</content>
</paragraph>
</subsection>
<subsection eId="section-76-5">
<num>5</num>
<content>
<p>Neither subsection (1) nor subsection (2) of section 75 shall apply in relation to a sale or contract if the machinery or plant has never been used before the sale or the making of the contract and the business or part of the business of the seller or owner was the manufacture or supply of machinery or plant of that class and the sale was effected or the contract was made in the ordinary course of that business.</p>
</content>
</subsection>
<subsection eId="section-76-6">
<num>6</num>
<intro>
<p>In this section—</p>
</intro>
<paragraph eId="section-76-6-a">
<num>a</num>
<content>
<p>
<term refersTo="#term-open-market-value">open market value</term>
” in relation to any machinery or plant means an amount equal to the price which the machinery or plant would have fetched if sold in the open market; and
</p>
</content>
</paragraph>
<paragraph eId="section-76-6-b">
<num>b</num>
<content>
<p>references to persons connected with each other shall be construed in accordance with section 839 of the principal Act.</p>
</content>
</paragraph>
</subsection>
<subsection eId="section-76-7">
<num>
<ins class="key-ff2cfa1325cfa03c53bccbd1d7fc2967-1563465706239 first">
<noteRef href="#key-ff2cfa1325cfa03c53bccbd1d7fc2967" marker="F3" class="commentary attribute F"/>
7
</ins>
</num>
<content>
<p>
<ins class="key-ff2cfa1325cfa03c53bccbd1d7fc2967-1563465706239 last">This section has effect subject to the modifications made by section 76A in cases where there is a finance lease.</ins>
</p>
</content>
</subsection>
</section>
</chapter>
</part>
</portionBody>
</portion>
</akomaNtoso>