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Changes over time for: Section 414


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.
Status:
Point in time view as at 06/04/2024.
Changes to legislation:
There are currently no known outstanding effects for the Capital Allowances Act 2001, Section 414.

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.
414 Expenditure on works likely to become valuelessU.K.
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adran has no associated
Nodiadau Esboniadol
(1)Expenditure is qualifying expenditure if—
(a)it is capital expenditure on constructing works in connection with the working of a source of mineral deposits,
(b)it is incurred for the purposes of a mineral extraction trade, and
(c)the works—
(i)are likely to be of little or no value, when the source is no longer worked, to the last person working the source, or
(ii)if the source is worked under a foreign concession, are likely to become valueless, when the concession ends, to the last person working the source under the concession.
(2)For the purposes of subsection (1), expenditure on constructing works does not include expenditure on acquiring the site of the works or any right in or over the site.
(3)In subsection (1)(c) “foreign concession” means a right or privilege granted by the government of, or any municipality or other authority in, a territory outside the United Kingdom.
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