Chwilio Deddfwriaeth

Capital Allowances Act 2001

 Help about what version

Pa Fersiwn

 Help about advanced features

Nodweddion Uwch

 Help about opening options

Dewisiadau AgorExpand opening options

Changes over time for: Section 6E

 Help about opening options

Alternative versions:

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Point in time view as at 06/04/2024.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 6E. Help about Changes to Legislation

[F16EGiving effect to allowances and charges: NI rate activity casesU.K.

This adran has no associated Nodiadau Esboniadol

(1)This section applies if [F2an SME (Northern Ireland employer) company] or a NIRE company is entitled or liable to—

(a)an allowance or charge under Part 2 (plant and machinery allowances) where the qualifying activity is a trade,

[F3(aa)an allowance under Part 2A (structures and buildings allowances),]

(b)an allowance or charge under Part 3A (business premises renovation allowances),

(c)an allowance or charge under Part 5 (mineral extraction allowances),

(d)an allowance or charge under Part 6 (research and development), or

(e)an allowance under Part 9 (dredging allowances).

(2)For the purposes of the corporate partner calculation, this section also applies if a Northern Ireland firm is entitled or liable to an allowance or charge falling within any of subsection (1)(a) to (e).

(3)The allowance or charge is to be given effect in calculating the profits of the trade, by treating—

(a)the allowance as an expense of the trade, and

(b)the charge as a receipt of the trade.

(4)If the allowance or charge relates to an NI rate activity, it is treated for the purposes of Part 8B of CTA 2010 (trading profits taxable at the Northern Ireland rate) as forming part of the Northern Ireland profits or Northern Ireland losses of the trade.

(5)If the allowance or charge relates to a main rate activity, it is treated for the purposes of Part 8B of CTA 2010 as forming part of the mainstream profits or mainstream losses of the trade.

(6)In this section—

(a)the trade” means the trade carried on by the company or partnership (disregarding for this purpose section 6D), and

(b)main rate activity” means so much of the trade as is not an NI rate activity.]

Textual Amendments

F1Pt. 1 Ch. 1A inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), Sch. 1 para. 2

F2Words in s. 6E(1) substituted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 24(c)

Yn ôl i’r brig

Options/Cymorth

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?