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Changes over time for: Section 104


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 21/07/2008
Status:
Point in time view as at 22/03/2001. This version of this provision has been superseded.

Status
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
Changes to legislation:
There are currently no known outstanding effects for the Capital Allowances Act 2001, Section 104.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
104 Disposal value of long-life assetsU.K.
This
adran has no associated
Nodiadau Esboniadol
(1)This section applies if—
(a)section 102 (writing-down allowances at 6%) has had effect in relation to any long-life asset expenditure incurred by a person (“the taxpayer”),
(b)any disposal event occurs in relation to the long-life asset,
(c)the disposal value to be brought into account by the taxpayer would (but for this section) be less than the notional written-down value of the long-life asset, and
(d)the disposal event is part of, or occurs as a result of, a scheme or arrangement the main purpose or one of the main purposes of which is the obtaining by the taxpayer of a tax advantage under this Part.
(2)The disposal value that the taxpayer must bring into account is the notional written-down value of the long-life asset.
(3)The notional written-down value is—
where—
QE is the taxpayer’s expenditure on the plant or machinery that is qualifying expenditure, and
A is the total of all allowances which could have been made to the taxpayer in respect of that expenditure if—
(a) that expenditure had been the only expenditure that had ever been taken into account in determining his available qualifying expenditure,
(b) that expenditure had not been prevented by the application of a monetary limit from being long-life asset expenditure, and
(c) all allowances had been made in full.
Yn ôl i’r brig