Finance Act 2014, Paragraph 7 is up to date with all changes known to be in force on or before 04 March 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.
7(1)Schedule 1 to FA 2013 (annual investment allowance) is amended as follows.U.K.
(2)In paragraph 1 (chargeable periods which straddle 1 January 2013)—
(a)in sub-paragraph (1), after “that date” insert “ but not later than the specified date ”, and
(b)after sub-paragraph (1) insert—
“(1A)The specified date” means—
(a)for the purposes of corporation tax, 31 March 2014, and
(b)for the purposes of income tax, 5 April 2014.”
(3)Omit paragraph 4 (chargeable periods which straddle 1 January 2015).
(4)In paragraph 5 (operation of annual investment allowance where restrictions apply)—
(a)in sub-paragraph (1)—
(i)for “to 4” substitute “ to 3 ”, and
(ii)omit “or 4(1)”, and
(b)in sub-paragraph (2), omit “or 4(1)”,
(c)in sub-paragraph (3)(b), for “, 2014-15, 2015-16 or 2016-17” substitute “ or 2014-15 ”.
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