
Print Options
PrintThe Whole
Act
PrintThe Whole
Schedule
PrintThis
Part
only
Status:
Point in time view as at 06/04/2024.
Changes to legislation:
Capital Allowances Act 2001, Part 2 is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
Part 2U.K. Changes in the law
8(1)This paragraph applies where, in the case of any person—U.K.
(a)a thing is done or an event occurs before the relevant date, and
(b)by reason of a change in the law effected by this Act, the tax consequences of that thing or event for a relevant chargeable period are different from what they would otherwise have been.
(2)If that person so elects, this Act has effect in relation to that period with such modifications as may be necessary to secure that those consequences are the same as they would have been without the change in the law.
(3)If this paragraph applies in the case of two or more persons in relation to the same thing or event, an election made under sub-paragraph (2) by any one of those persons is of no effect unless a corresponding election is made by the other or each of the others.
(4)An election under sub-paragraph (2) must be made by notice given to [an officer of Revenue and Customs]—
(a)for income tax purposes, within the normal time limit for amending a tax return for the tax year in which the chargeable period ends;
(b)for corporation tax purposes, no later than 2 years after the end of the chargeable period.
(5)In this paragraph—
Yn ôl i’r brig