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Capital Allowances Act 2001

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Changes over time for: Section 228

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Point in time view as at 06/04/2024.

Changes to legislation:

Capital Allowances Act 2001, Section 228 is up to date with all changes known to be in force on or before 06 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. Help about Changes to Legislation

228 Effect of election: relaxation of restriction on B’s qualifying expenditure, etc.U.K.
This section has no associated Explanatory Notes

(1)The effect of an election under section 227 in relation to B is that subsections (2) and (3) apply instead of section 218 F1... (restriction on B’s qualifying expenditure).

(2)The amount, if any, by which B’s expenditure under the relevant transaction exceeds D is to be left out of account in determining B’s available qualifying expenditure.

(3)D is whichever of the following is the smaller—

(a)if S incurred capital expenditure on the provision of the plant or machinery, the amount of that expenditure;

(b)if a person connected with S incurred capital expenditure on the provision of the plant or machinery, the amount of that expenditure.

F2(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)The effect of an election under section 227 in relation to S is—

(a)that no allowance is to be made to S under this Act in respect of the capital expenditure on the provision of the plant or machinery, and

(b)that the whole of that expenditure must be left out of account in determining the amount for any period of Ss’ available qualifying expenditure for the purposes of this Part.

Textual Amendments

F1Words in s. 228(1) omitted (with effect in accordance with Sch. 20 para. 6(19) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 20 para. 6(14)(a)

F2S. 228(4) omitted (with effect in accordance with Sch. 20 para. 6(19) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 20 para. 6(14)(b)

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