C1C5C4C3C6C7C8C9Part 2 Plant and machinery allowances
Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 10, 22 (with s. 38(2) ); S.I. 2004/2575 , art. 2(1) , Sch. 1
Pt. 2 modified (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 9(2), 21(2) (with s. 38(2)); S.I. 2004/2575, art. 2(1) , Sch. 1
Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 4 para. 4 ; S.I. 2004/2575 , art. 2(1) , Sch. 1
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 19
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 35
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 paras. 36, 37
Pt. 2 modified (21.7.2009) by Finance Act 2009 (c. 10), s. 24
Chapter 2 Qualifying activities
15 Qualifying activities
1
Each of the following is a qualifying activity for the purposes of this Part—
a
a trade,
c
a F10UK furnished holiday lettings business,
d
an F11ordinary overseas property business,
F7da
an EEA furnished holiday lettings business,
e
a profession or vocation,
f
F1g
managing the investments of a company with investment business,
h
special leasing of plant or machinery, and
i
an employment or office,
but to the extent only that the profits or gains from the activity are, or (if there were any) would be, chargeable to tax.
2
Subsection (1) is subject to the following provisions of this Part.
F62A
A business carried on through one or more permanent establishments outside the United Kingdom by a company in relation to which an election under section 18A of CTA 2009 has effect—
a
is an activity separate from any other activity of the company, and
b
is to be regarded as an activity all the profits and gains from which are not, or (if there were any) would not be, chargeable to tax.
3
This section, in so far as it provides for—
b
an F12ordinary overseas property business, or
c
special leasing of plant or machinery,
to be a qualifying activity, needs to be read with section 35 (expenditure on plant or machinery for use in a dwelling-house not qualifying expenditure in certain cases).
4
Also, subsection (1)(i) needs to be read with sections 36 (restriction on qualifying expenditure in case of employment or office) and 80 (vehicles provided for purposes of employment or office).
Pt. 2 modified (24.2.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 10 para. 12 (with Sch. 10 para. 17(1)); S.I. 2003/120, art. 2, Sch. (with arts. 34) (as amended (20.2.2003) by S.I. 2003/333, art. 14)