SCHEDULES
SCHEDULE 18AGroup relief: overseas losses of non-resident companies
Part 2Application of UK rules to non-resident company
Capital allowances
15
(1)
This paragraph applies if, before the beginning of the loss period, the EEA company incurs any capital expenditure on the provision of plant or machinery for the purposes of any activity.
(2)
It is to be assumed for the purposes of Part 2 of the Capital Allowances Act that the plant or machinery—
(a)
was provided for purposes wholly other than those of the activity, and
(b)
was not brought into use for the purposes of the activity until the beginning of the loss period,
and section 13 of the Capital Allowances Act (use for qualifying activity of plant or machinery provided for other purposes) is to apply accordingly.
(3)
This paragraph is to be read as one with Part 2 of the Capital Allowances Act.