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Finance Act 2011

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Changes over time for: Paragraph 18

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Finance Act 2011, Paragraph 18 is up to date with all changes known to be in force on or before 27 February 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. Help about Changes to Legislation

18(1)Section 435 (disregard of increases or decreases in balance sheet amounts) is amended as follows.U.K.

(2)In subsection (1), for paragraph (a) substitute—

(a)an amount mentioned in subsection (1A) is to be ascertained for the purpose of determining a question as to the application of Chapter 3 or 4,.

(3)After that subsection insert—

(1A)The amounts are—

(a)the relevant plant or machinery value,

(b)the value of plant or machinery falling within section 387(7) or 410(6),

(c)the relevant company's or partnership's income in the period of 12 months ending with the relevant day,

(d)the amount of PM,

(e)the amount of TWDV,

(f)the amount of any disposal value to be substituted by section 398G(3), and

(g)any underlying amount required to calculate or verify an amount mentioned in any of the preceding paragraphs.

(4)In subsection (2)—

(a)omit “or” at the end of paragraph (b), and

(b)at the end of paragraph (c) insert , or

(d)the amount of any disposal value to be substituted by section 398G(3) would be reduced.

(5)In subsection (3), for “which falls (or would fall) to be shown in the balance sheet in respect of plant or machinery” substitute “ to be ascertained ”.

(6)Accordingly, in the heading of that section, for “in balance sheet amounts” substitute in certain amounts.

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