Search Legislation

Transport Act 2000

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Cross Heading: Capital allowances for plant and machinery

 Help about opening options

Changes to legislation:

Transport Act 2000, Cross Heading: Capital allowances for plant and machinery is up to date with all changes known to be in force on or before 07 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Capital allowances for plant and machineryU.K.

5(1)This paragraph applies in relation to property if—U.K.

(a)the property is plant or machinery to which a relevant transfer relates,

(b)the property would have been treated for the purposes of [F1the Capital Allowances Act] (had the transferor incurred expenditure qualifying for allowances under [F1Part 2 of that Act]on the provision of the property) as disposed of by the transferor to the transferee on the transfer taking effect, and

(c)the relevant order or scheme contains provision for the transferee to be taken for the purposes of [F2that Act] to have incurred capital expenditure of an amount specified in or determined in accordance with the order or scheme on the provision of the property.

(2)For the purposes of [F3the Capital Allowances Act]

(a)the transferee is to be taken to have incurred capital expenditure of that amount on the provision of the property for the purposes for which it is used by the transferee on and after the taking effect of the transfer,

(b)the property is to be taken as belonging to the transferee in consequence of the transferee having incurred that expenditure, and

(c)in the case of a fixture, the expenditure which falls to be treated as incurred by the transferee is to be taken for the purposes of [F4sections 181(1) and 182(1) of that Act] to be incurred by the giving of a consideration consisting in a capital sum of that amount.

(3)In sub-paragraph (1)(c) “the relevant order or scheme” means—

(a)in the case of a transfer by virtue of section 215, an order made by the Secretary of State by statutory instrument, or

(b)in the case of a transfer by virtue of a scheme under paragraph 1 of Schedule 15 or paragraph 31 of Schedule 17, the scheme concerned.

(4)A provision mentioned in sub-paragraph (1)(c) for the determination of an amount may include provision—

(a)for a determination to be made by the Secretary of State in a manner described in the order or scheme,

(b)for a determination to be made by reference to factors so described or to the opinion of a person so described, and

(c)for a determination to be capable of being modified (on one or more occasions) in a manner and in circumstances so described.

(5)The Treasury’s consent is required for the making or modification of a determination under a provision mentioned in sub-paragraph (1)(c).

(6)The transferee’s consent is also required for such a modification after the relevant transfer takes effect.

(7)If there is a determination or a modification of a determination under a provision mentioned in sub-paragraph (1)(c) all necessary adjustments—

(a)must be made by making assessments or by repayment or discharge of tax, and

(b)must be made despite any limitation on the time within which assessments may be made.

Textual Amendments

F1Words in Sch. 26 para. 5(1)(b) substituted (22.3.2001, with effect as mentioned in 2001 c. 2, s. 579(1)) by 2001 c. 2, s. 578, Sch. 2 para. 109(3)

F2Words in Sch. 26 para. 5(1)(c) substituted (22.3.2001, with effect as mentioned in 2001 c. 2, s. 579(1)) by 2001 c. 2, s. 578, Sch. 2 para. 109(4)

F3Words in Sch. 26 para. 5(2) substituted (22.3.2001, with effect as mentioned in 2001 c. 2, s. 579(1)) by 2001 c. 2, s. 578, Sch. 2 para. 109(5)(a)

F4Words in Sch. 26 para. 5(2)(c) substituted (22.3.2001, with effect as mentioned in 2001 c. 2, s. 579(1)) by 2001 c. 2, s. 578, Sch. 2 para. 109(5)(b)

Back to top

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?