SCHEDULES
SCHEDULE 2Annual investment allowance: transitional provisions etc
PART 2Amendments of FA 2013
6
1
Section 7 of FA 2013 (temporary increase in annual investment allowance) is amended as follows.
2
In subsection (1), for “of two years beginning with 1 January 2013” substitute “
beginning with 1 January 2013 and ending with the specified date
”
.
3
After subsection (1) insert—
1A
The specified date is —
a
for the purposes of corporation tax, 31 March 2014, and
b
for the purposes of income tax, 5 April 2014.
4
In subsection (2), omit “or 1 January 2015”.
7
1
Schedule 1 to FA 2013 (annual investment allowance) is amended as follows.
2
In paragraph 1 (chargeable periods which straddle 1 January 2013)—
a
in sub-paragraph (1), after “that date” insert “
but not later than the specified date
”
, and
b
after sub-paragraph (1) insert—
1A
The specified date” means—
a
for the purposes of corporation tax, 31 March 2014, and
b
for the purposes of income tax, 5 April 2014.
3
Omit paragraph 4 (chargeable periods which straddle 1 January 2015).
4
In paragraph 5 (operation of annual investment allowance where restrictions apply)—
a
in sub-paragraph (1)—
i
for “to 4” substitute “
to 3
”
, and
ii
omit “or 4(1)”, and
b
in sub-paragraph (2), omit “or 4(1)”,
c
in sub-paragraph (3)(b), for “, 2014-15, 2015-16 or 2016-17” substitute “
or 2014-15
”
.