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Capital Allowances Act 2001
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109 Writing-down allowances at 10%U.K.
This section has no associated Explanatory Notes
(1)The amount of the writing-down allowance to which a person is entitled for a chargeable period in respect of expenditure to which this section applies is 10% of the amount by which AQE exceeds TDR (see Chapter 5).
(2)This section applies to expenditure incurred on the provision of plant or machinery for leasing if—
(a)the plant or machinery is at any time in the designated period used for overseas leasing which is not protected leasing, and
(b)the expenditure is not long-life asset expenditure.
(3)Subsection (2) applies to expenditure even if the expenditure is in a single asset pool.
(4)Subsections (3) and (4) of section 56 (proportionate increases or reductions in amount in certain cases) apply for the purposes of subsection (1) of this section as they apply for the purposes of subsection (1) of that section.
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