Capital Allowances Act 1990 (repealed)

139 Supplemental. U.K.

(1) In this Part—

[F1 (a) “research and development” has the meaning given by section 837A of the principal Act and includes oil and gas exploration and appraisal;]

(b) “[F2 research and development] expenditure” means expenditure incurred on [F2 research and development];

(c) references to expenditure incurred on [F2 research and development] do not include any expenditure incurred in the acquisition of rights in, or arising out of, [F2 research and development], but, subject to that, include all expenditure incurred for the prosecution of, or the provision of facilities for the prosecution of, [F2 research and development];

(d) references to [F2 research and development] related to a trade F3 ... include—

(i) any [F2 research and development] which may lead to or facilitate an extension of that trade F4 ... ;

(ii) any [F2 research and development] of a medical nature which has a special relation to the welfare of workers employed in that trade F4 ... ; and

(e) “asset” includes part of an asset.

(2) The same expenditure shall not be taken into account for any of the purposes of this Part in relation to more than one trade.

F5 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) Any reference in this Part to the time when an asset ceases to belong to a person shall, in the case of a sale, be construed as a reference to the time of completion or the time when possession is given, whichever is the earlier.

This subsection shall have effect in any case where the sale is effected, or the contract for sale entered into, after 26th July 1989.

(5) The cost to a person of the demolition of any property shall not, if section 138(5)(a) applies to it, be treated for the purposes of this Act as expenditure incurred in respect of any other property by which that property is replaced.

Textual Amendments

F1 S. 139(1)(a) substituted (with effect in accordance with s. 68(1)(2) of the amending Act) by Finance Act 2000 (c. 17), Sch. 19 para. 10

F2 Words in s. 139(1)(b)-(d) substituted (with effect in accordance with s. 68(1)(2) of the amending Act) by Finance Act 2000 (c. 17), Sch. 19 paras. 7, 8

F3 Words in s. 139(1)(d) repealed (with effect in accordance with s. 68(2) of the amending Act) by Finance Act 2000 (c. 17), Sch. 40 Pt. 2(7)

F4 Words in s. 139(1)(d)(i)(ii) repealed (with effect in accordance with s. 68(2) of the amending Act) by Finance Act 2000 (c. 17), Sch. 40 Pt. 2(7)

F5 S. 139(3) repealed (with effect in accordance with s. 68(2) of the amending Act) by Finance Act 2000 (c. 17), Sch. 40 Pt. 2(7)