- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (17/07/2012)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 15/09/2016
Point in time view as at 17/07/2012. This version of this provision has been superseded.
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There are currently no known outstanding effects for the Capital Allowances Act 2001, Section 215.
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(1)Allowances under this Part are restricted under the applicable sections if B enters into a relevant transaction with S that either—
(a)has an avoidance purpose, or
(b)is part of, or occurs as a result of, a scheme or arrangement that has an avoidance purpose.
(2)Subsection (1)(b) may be satisfied—
(a)whether the scheme or arrangement was made before or after the relevant transaction was entered into, and
(b)whether or not the scheme or arrangement is legally enforceable.
(3)A transaction, scheme or arrangement has an “avoidance purpose” if the main purpose, or one of the main purposes, of a party in entering into the transaction, scheme or arrangement is to enable a person to obtain a tax advantage under this Part that would not otherwise be obtained.
(4)The reference in subsection (3) to obtaining a tax advantage that would not otherwise be obtained includes obtaining an allowance that is in any way more favourable to a person than the one that would otherwise be obtained.
(5)If the tax advantage is of a kind described in subsection (7), “the applicable sections” are sections 217 and 218ZA(5).
(6)Otherwise, “the applicable sections” are sections 217 and 218ZA(1) or, as the case may be, 218ZA(3).
(7)The kinds of tax advantage are—
(a)that an allowance to which B is entitled for a chargeable period is calculated using a percentage rate that is higher than the one that would otherwise be used, or
(b)that B is entitled to an allowance in respect of an amount of capital expenditure sooner than B would otherwise be entitled to it.
(8)If a transaction, scheme or arrangement involves—
(a)a tax advantage of a kind described in subsection (7), and
(b)a tax advantage not of such a kind,
subsections (5) and (6) have effect separately in relation to each tax advantage.]
Textual Amendments
F1S. 215 substituted (with effect in accordance with Sch. 9 para. 9(1)(3) of the amending Act) by Finance Act 2012 (c. 14), Sch. 9 para. 1
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