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Capital Allowances Act 2001

Chapter 5: Supplementary provisions

1583.This Chapter deals with giving effect to allowances and charges and the time when an asset that is sold ceases to be owned.

Section 450: Giving effect to allowances and charges

1584.This section is based on sections 137(1), 140(2) and (5), 144(2) and (3) and 161(2) and (5) of CAA 1990. It gives effect to allowances and charges as trading expenses or trading receipts in the chargeable period for which they are made.

Section 451: Sales: time of cessation of ownership

1585.This section is based on section 139(4) of CAA 1990. It defines references to the time of cessation of ownership in the case of a sale.

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