Capital Allowances Act 1990 (repealed) (c. 1)

Part III U.K. Dwelling-houses Let on Assured Tenancies

[F1 92 Manner of making allowances and charges. U.K.

(1) An allowance or charge to which a person is entitled or is liable under this Part is made in taxing that person’s trade.

What is meant by that is explained—

• for income tax, in section 140(2), and

• for corporation tax, in section 144(2).

(2) Subsection (1) (and the provisions referred to in it) apply—

(a) as if any Schedule A business carried on by that person were the trade in the taxing of which the allowance or charge is to be made; or

(b) where that person is not carrying on such a business, as if he were carrying on such a business and that business were the trade in the taxing of which the allowance or charge is to be made.]

Textual Amendments

F1 S. 92 substituted (with effect in accordance with s. 38(2)(3) of the amending Act) by Finance Act 1998 (c. 36), s. 38(2)(3), Sch. 5 para. 58 (with Sch. 5 Pt. 4)