Part 3 U.K.Capital allowances

Plant and machinery: first-year allowances U.K.

77 Cars with low carbon dioxide emissions U.K.

(1) Section 45D of CAA 2001 (expenditure on cars with low carbon dioxide emissions) is amended as follows.

F1 (2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) In consequence of the amendment made by subsection (2)—

F3 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) The amendment made by subsection (3) has effect in relation to expenditure incurred on or after 1 April 2008.

(6) But in relation to expenditure incurred on the hiring of a car—

(a) for a period of hire which begins on or before 31 March 2008, and

(b) under a contract entered into on or before 31 March 2008,

[F5 section 50 of ITTOIA 2005 applies] on and after 1 April 2008 as if the amendment made by subsection (3) did not have effect.

Textual Amendments

F1 S. 77(2) omitted (17.7.2013) by virtue of Finance Act 2013 (c. 29), s. 68(4)(a)

F2 S. 77(3) omitted (17.7.2013) (with effect in accordance with s. 68(5)(7)(8) of the amending Act) by virtue of Finance Act 2013 (c. 29), s. 68(4)(b)

F3 S. 77(4)(a) and word repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

F4 S. 77(4)(b) omitted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 64(a)

F5 Words in s. 77(6) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 731 (with Sch. 2 Pts. 1, 2)