- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (19/07/2007)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 21/07/2008
Point in time view as at 19/07/2007.
There are currently no known outstanding effects for the Capital Allowances Act 2001, Cross Heading: Writing-down and balancing allowances and balancing charges.
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(1)Whether a person is entitled to a writing-down allowance or a balancing allowance, or liable to a balancing charge, for a chargeable period is determined separately for each pool of qualifying expenditure and depends on—
(a)the available qualifying expenditure in that pool for that period (“AQE”), and
(b)the total of any disposal receipts to be brought into account in that pool for that period (“TDR”).
(2)If AQE exceeds TDR, the person is entitled to a writing-down allowance or a balancing allowance for the period.
(3)If TDR exceeds AQE, the person is liable to a balancing charge for the period.
(4)The entitlement under subsection (2) is to a writing-down allowance except for the final chargeable period when it is to a balancing allowance.
(5)The final chargeable period is given by section 65.
(6)Subsection (2) is subject to section 110(1) (overseas leasing: allowances prohibited in certain cases).
(1)The amount of the writing-down allowance to which a person is entitled for a chargeable period is 25% of the amount by which AQE exceeds TDR.
(2)Subsection (1) is subject to—
(a)section 102 (long-life asset expenditure: 6%), and
(b)section 109 (overseas leasing: 10%).
(3)If the chargeable period is more or less than a year, the amount is proportionately increased or reduced.
(4)If the qualifying activity has been carried on for part only of the chargeable period, the amount is proportionately reduced.
(5)A person claiming a writing-down allowance may require the allowance to be reduced to a specified amount.
(6)The amount of the balancing charge to which a person is liable for a chargeable period is the amount by which TDR exceeds AQE.
(7)The amount of the balancing allowance to which a person is entitled for the final chargeable period is the amount by which AQE exceeds TDR.
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