Capital Allowances Act 2001 (c. 2)

Modifications etc. (not altering text)

C1 S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7

Part 6 U.K. Research and development allowances

Chapter 5 U.K. Supplementary provisions

451 Sales: time of cessation of ownership U.K.

Any reference in this Part to the time when a person ceases to own an asset is to be read, in the case of a sale, as a reference to whichever is the earlier of—

(a) the time of completion, and

(b) the time when possession is given.