[F1403ZB Amounts eligible for group relief: excess capital allowances.U.K.
(1)For the purposes of section 403 excess capital allowances means capital allowances falling to be made to the surrendering company [F2for the surrender period to the extent that they are to be given effect under section 260 of the Capital Allowances Act (special leasing: excess allowance).]
(2)In determining the amount of the allowances falling to be made for the surrender period, no account shall be taken of any allowances carried forward from an earlier period.
(3)The amount of the company’s income of the relevant class means its amount before deduction of—
(a)losses of any other period, or
(b)capital allowances.]
Textual Amendments
F1Ss. 403-403ZE substituted for s. 403 (with effect in accordance with s. 38(2)(3) of the amending Act) by Finance Act 1998 (c. 36), Sch. 5 para. 29 (with Sch. 5 para. 73)
F2Words in s. 403ZB(1) substituted (with effect in accordance with s. 579(1) of the amending Act) by Capital Allowances Act 2001 (c. 2), Sch. 2 para 36 (with Sch. 3)
Modifications etc. (not altering text)
C1S. 403ZB(2) restricted (with effect in accordance with s. 579(1) of the restricting Act) by Capital Allowances Act 2001 (c. 2), s. 131(7) (with Sch. 3 paras. 54, 55)