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Status:
Point in time view as at 22/03/2001. This version of this provision is not valid for this point in time.

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Changes to legislation:
Capital Allowances Act 2001, Section 416D 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.

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Yn ddilys o 24/07/2002
[416D First-year allowancesU.K.
This
adran has no associated
Nodiadau Esboniadol
(1)A person is entitled to a first-year allowance in respect of first-year qualifying expenditure if the expenditure is incurred in a chargeable period to which this Act applies.
(2)Any first-year allowance is made for the chargeable period in which the first-year qualifying expenditure is incurred.
(3)The amount of the allowance is a percentage of the first-year qualifying expenditure in respect of which the allowance is made, as shown in the Table—
Table
Amount of first-year allowances
Type of first-year qualifying expenditure | Amount |
---|
Expenditure qualifying under section 416B (expenditure incurred wholly for the purposes of a ring fence trade) | 100% |
(4)A person who is entitled to a first-year allowance may claim the allowance in respect of the whole or a part of the first-year qualifying expenditure.
(5)This section is subject to section 416E (artificially inflated claims for first-year allowances).]
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