Capital Allowances Act 1990 (repealed)

153 Subsidies, contributions etc. U.K.

(1) Expenditure shall not be regarded for any of the purposes of this Act as having been incurred by any person in so far as it has been or is to be met directly or indirectly by the Crown or by any government or public or local authority, whether in the United Kingdom or elsewhere, or by any person other than the first-mentioned person unless it is so met by a grant made under the provisions of Part II of the M1 Industrial Development Act 1982 or Part I of the M2 Industry Act 1972 or such grant made under an enactment of the Parliament of Northern Ireland or a Measure of the Northern Ireland Assembly as may be declared by the Treasury by order to correspond to a grant made under those provisions.

(2) In considering, for the purposes of this section, how far any expenditure has been or is to be met directly or indirectly by the Crown or by any authority or person other than the person incurring the expenditure, there shall be left out of account—

(a) any insurance moneys or other compensation moneys payable in respect of any asset which has been demolished, destroyed or put out of use, and

(b) any expenditure met or to be met by any person other than the Crown or a government or public or local authority, being expenditure in respect of which, apart from the provisions of this paragraph, no allowance could be made under section 154, and not being expenditure which is allowed to be deducted in computing the profits or gains of a trade, profession or vocation carried on by that person.

(3) In determining for the purposes of subsection (2)(b) above whether an allowance could be made under the provisions of section 154, it shall be assumed that the person by whom expenditure has been or is to be met is within the charge to tax, whether or not that is in fact the case.

(4) This section shall not apply for the purposes of Part VI and subsection (2) shall not apply for the purposes of Part VII.

(5) In relation to expenditure incurred before 27th July 1989, and in relation to expenditure incurred on or after that date in so far as a contribution to that expenditure was made before that date, this section shall have effect with the omission of the words in subsection (2)(b) following “154" and of subsection (3).

Modifications etc. (not altering text)

C1 S. 153 excluded by Finance Act 1990 (c. 29, SIF 63:1), s. 126(4)

Marginal Citations

M1 1982 c. 52.

M2 1972 c. 63.