Income Tax (Trading and Other Income) Act 2005 (c. 5)

Part 7 U.K. Income charged under this Act: rent-a-room and foster-care relief

Chapter 2 U.K. Foster-care relief

Capital allowances for foster carers carrying on trade U.K.

827 Excluded capital expenditure: subsequent treatment of asset U.K.

If a relevant individual incurs excluded capital expenditure in a relevant chargeable period, section 13 of CAA 2001 applies as if, on the first day of the first subsequent chargeable period which is not a relevant chargeable period—

(a) the individual brings into use for the provision of foster care such of the plant or machinery on which the expenditure was incurred as the individual still owns on that day, and

(b) the individual owns the plant or machinery as a result of incurring capital expenditure on its provision for other purposes.