Capital Allowances Act 2001

Schedule 12 (leasing arrangements: finance leases and loans) U.K.

98 (1) For paragraph 11(3)(a) to (c) substitute—

“(a) Part 2 of the Capital Allowances Act (plant and machinery allowances),

(b) Part 5 of that Act (mineral extraction allowances), or

(c) Part 8 of that Act (patent allowances)”.

(2) In paragraph 11(8), for “the Capital Allowances Acts” substitute “ the Capital Allowances Act ” and omit “or its basis period”.

(3) For paragraph 11(9)(a) and (b) substitute “ section 40B(1) or 42 of the Finance (No. 2) Act 1992 (expenditure in connection with films etc.), ”.

(4) In paragraph 11(10), for “under section 68(8) of the Capital Allowances Act 1990” substitute “ under section 40A(2) of the Finance (No. 2) Act 1992 ”.

(5) In paragraph 11(13), for “section 154 of the Capital Allowances Act 1990” substitute “ sections 537 to 542 of the Capital Allowances Act ”.

(6) For paragraph 11(14) substitute—

“(14) In sub-paragraph (8) above—

• “the Capital Allowances Act” includes enactments which under the Taxes Act 1988 are to be treated as contained in the Capital Allowances Act;

• “chargeable period” has the meaning given by section 6 of the Capital Allowances Act.”.

(7) Omit paragraph 11(15).