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Finance Act 2013
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7Temporary increase in annual investment allowanceU.K.
This section has no associated Explanatory Notes
(1)In relation to expenditure incurred during the period [F1beginning with 1 January 2013 and ending with the specified date ] , section 51A of CAA 2001 (entitlement to annual investment allowance) has effect as if in subsection (5) for “£25,000” there were substituted “ £250,000 ”.
[F2(1A)The specified date is —
(a)for the purposes of corporation tax, 31 March 2014, and
(b)for the purposes of income tax, 5 April 2014.]
(2)Schedule 1 contains provision about chargeable periods which straddle 1 January 2013 F3....
Textual Amendments
F1Words in s. 7(1) substituted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 2 para. 6(2)
F2S. 7(1A) inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 2 para. 6(3)
F3Words in s. 7(2) omitted (17.7.2014) by virtue of Finance Act 2014 (c. 26), Sch. 2 para. 6(4)
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