Point in time view as at 06/04/2024.
Capital Allowances Act 2001, Paragraph 41 is up to date with all changes known to be in force on or before 07 March 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.
41In relation to a fixture which a person is treated as ceasing to own before 24th July 1996, section 196 applies with the substitution for subsection (6) of—
“(6)If—
(a)a person (“the former owner”) is treated by virtue of section 188, 190 or 191 as ceasing to own a fixture,
(b)another person incurs expenditure on the provision of the fixture, and
(c)the former owner brings a disposal value into account under Chapter 5,
there is to be disregarded for the purposes of this Part so much (if any) of that expenditure as exceeds that disposal value.
(7)In relation to expenditure incurred before 27th July 1989, subsection (6) has effect with the substitution for the words following “the fixture” in paragraph (b) of the words “there is to be disregarded for the purposes of this Part so much (if any) of that expenditure as exceeds the disposal value which the former owner is required to bring into account under Chapter 5””.
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