- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)A first year allowance shall not be made under—
(a)section 22 of the [1990 c. 1.] Capital Allowances Act 1990 (first-year allowances in respect of expenditure on machinery or plant), or
(b)section 41 of the [1971 c. 68.] Finance Act 1971 (provision corresponding to section 22 applicable to earlier chargeable periods),
for any chargeable period (whenever ending) unless the relevant condition is fulfilled with respect to that period.
(2)For the purposes of—
(a)section 25(1) of the 1990 Act (meaning of qualifying expenditure for the purposes of writing-down allowances for expenditure on machinery or plant), and
(b)section 44(4) of the 1971 Act (provision corresponding to section 25(1) applicable to earlier chargeable periods),
no expenditure may form part of a person’s qualifying expenditure for any chargeable period (whenever ending) unless the relevant condition is fulfilled with respect to that period.
(3)The relevant condition is fulfilled with respect to a chargeable period ending on or after 30th November 1993 if notice of the expenditure is given to the inspector, in such form as the Board may require, not later than two years after the end of that period.
(4)The relevant condition is fulfilled with respect to a chargeable period ending before 30th November 1993 if—
(a)the expenditure was included in a computation which—
(i)was required to be made for any tax purpose,
(ii)was given before that date to an inspector, and
(iii)was not contained in a document prepared primarily for a purpose which was not a tax purpose; or
(b)notice of the expenditure is given to the inspector, in such form as the Board may require, not later than three years after the end of that period; or
(c)if the chargeable period ends on or after 1st December 1990, notice of the expenditure is so given before the passing of this Act.
(5)If in a particular case it appears to the Board appropriate to do so, having regard to all the circumstances of the case (including in particular any unforeseeable circumstances which have delayed the giving of any notice or computation), they may extend the period within which for the purposes of subsection (3) or (4) above any notice or computation is to be given to the inspector.
(6)For the purposes of the provisions mentioned in subsection (2) above expenditure which has not formed part of a person’s qualifying expenditure for a previous chargeable period may not form part of his qualifying expenditure for a subsequent chargeable period unless the machinery or plant on which the expenditure was incurred belongs to that person at some time in that subsequent period or its basis period.
(7)No relief shall be given under section 33 or 42 of the [1970 c. 9.] Taxes Management Act 1970 in respect of a claim of error or mistake to the extent that the error or mistake consists of or arises from a failure to fulfil the relevant condition in relation to a chargeable period.
(8)In this section “the 1990 Act” means the [1990 c. 1.] Capital Allowances Act 1990 and “the 1971 Act” means the [1971 c. 68.] Finance Act 1971; and expressions used in subsections (1) to (6) above have the same meaning as in the 1990 Act or (as the case may be) the 1971 Act.
(9)Any such adjustment as is appropriate in consequence of this section may be made (whether by way of discharge or repayment of tax, the making of an assessment or otherwise).
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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