- Latest available (Revised)
- Point in Time (16/11/2017)
- Original (As enacted)
Point in time view as at 16/11/2017.
There are currently no known outstanding effects for the Capital Allowances Act 2001, Cross Heading: Effect of changes in Northern Ireland status of SME company or SME partnership.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Textual Amendments
F1Ss. 66B-66E and cross-heading inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), Sch. 1 para. 7
(1)This section applies if—
(a)in a chargeable period beginning after the commencement day (“the relevant period”) a company is [F2an SME (Northern Ireland employer) company],
(b)the company was neither [F3an SME (Northern Ireland employer) company] nor a NIRE company in the previous chargeable period, and
(c)the company has not become [F4an SME (Northern Ireland employer) company] in the relevant period as a result of an election under section 357KB(2) of CTA 2010 (back-office activities of financial trades).
(2)The fact that assets which continue to be used in the relevant period for the purposes of the trade actually carried on by the company are as a result of section 15(2ZA) treated as ceasing to be used for the purposes of a main rate activity and beginning to be used for the purposes of an NI rate activity does not give rise to a disposal event within 61(1)(e) or (f).
(3)If during the relevant period the only qualifying activity carried on by the company is an NI rate activity, the amount of any unrelieved qualifying expenditure in any main pool or special rate pool falling to be carried forward to the relevant period is to be treated as relating to plant and machinery used for the purposes of the NI rate activity.
(4)If during the relevant period the company carries on both an NI rate activity and a main rate activity—
(a)the amount of any unrelieved qualifying expenditure in any main pool falling to be carried forward under section 59 to the relevant period is to be apportioned on a just and reasonable basis to become—
(i)a main pool that is to be treated as relating to plant and machinery used for the purposes of the NI rate activity, and
(ii)a main pool that is to be treated as relating to plant and machinery used for the purposes of the main rate activity, and
(b)the amount of any unrelieved qualifying expenditure in any special rate pool falling to be carried forward under section 59 to the relevant period is to be apportioned on a just and reasonable basis to become—
(i)a special rate pool that is to be treated as relating to plant and machinery used for the purposes of the NI rate activity, and
(ii)a special rate pool that is to be treated as relating to plant and machinery used for the purposes of the main rate activity.
(5)“Main rate activity” means the company's trade except so far as it is an NI rate activity.
(6)“The commencement day” has the meaning given by section 5(4) of the Corporation Tax (Northern Ireland) Act 2015.
Textual Amendments
F2Words in s. 66B(1)(a) substituted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 24(e)
F3Words in s. 66B(1)(b) substituted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 24(e)
F4Words in s. 66B(1)(c) substituted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 24(e)
For the purposes of the corporate partner calculation, section 66B applies in relation to a partnership as if—
(a)references to a company were references to a partnership,
(b)references to [F5an SME (Northern Ireland employer) company] were references to a Northern Ireland Chapter 6 firm,
(c)the reference to a NIRE company were a reference to a Northern Ireland Chapter 7 firm,
(d)the reference to section 357KB(2) of CTA 2010 were a reference to section 357WB(2) of that Act, and
(e)the reference to section 15(2ZA) were a reference to section 15(2ZB).
Textual Amendments
F5Words in s. 66C(b) substituted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 24(f)
(1)This section applies if—
(a)in a chargeable period beginning after the commencement day (“the relevant period”) a company is neither [F6an SME (Northern Ireland employer) company] nor a NIRE company,
(b)the company was [F7an SME (Northern Ireland employer) company] in the previous chargeable period, and
(c)during the relevant period the company carries on a qualifying activity.
(2)The fact that assets which continue to be used in the relevant period for the purposes of the trade actually carried on are as a result of section 15(2ZA) treated as ceasing to be used for the purposes of an NI rate activity and beginning to be used for the purposes of the qualifying activity mentioned in subsection (1)(c) does not give rise to a disposal event within 61(1)(e) or (f).
(3)Any unrelieved qualifying expenditure which—
(a)relates to plant or machinery used for the purposes of an NI activity, and
(b)falls to be carried forward to the relevant period,
is to be treated as relating to the qualifying activity that the company carries on in the relevant period.
(4)“The commencement day” has the meaning given by section 5(4) of the Corporation Tax (Northern Ireland) Act 2015.
Textual Amendments
F6Words in s. 66D(1)(a) substituted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 24(g)
F7Words in s. 66D(1)(b) substituted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 24(g)
For the purposes of the corporate partner calculation, section 66D applies in relation to a partnership as if—
(a)references to a company were references to a partnership,
(b)references to [F8an SME (Northern Ireland employer) company] were references to a Northern Ireland Chapter 6 firm,
(c)the reference to a NIRE company were a reference to a Northern Ireland Chapter 7 firm, and
(d)the reference to section 15(2ZA) were a reference to section 15(2ZB).]
Textual Amendments
F8Words in s. 66E(b) substituted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 24(h)
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?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
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?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Part 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?
The Whole Part you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
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?
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?
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?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: