Capital Allowances Act 2001

[F1 [F2 45AA Section 45A exclusion: [F3 feed-in tariffs and renewable heat incentives] U.K.

(1) Expenditure incurred on or after the relevant date on plant or machinery is to be treated as never having been first-year qualifying expenditure under section 45A if—

(a) a payment is made, or another incentive is given, under a scheme established by virtue of section 41 of the Energy Act 2008 (feed-in tariffs)[F4 , or under a corresponding scheme having effect in Northern Ireland,] in respect of electricity generated by the plant or machinery, or

(b) a payment is made, or another incentive is given, under a scheme established by regulations under section 100 of that Act [F5 or section 113 of the Energy Act 2011] (renewable heat incentives) in respect of heat generated, or gas or fuel produced, by the plant or machinery.

(2) All such assessments and adjustments of assessments are to be made as are necessary to give effect to subsection (1).

(3) If a person who has made a tax return becomes aware that, after making it, anything in it has become incorrect because of the operation of this section, the person must give notice to an officer of Revenue and Customs specifying how the return needs to be amended.

(4) The notice must be given within 3 months beginning with the day on which the person first became aware that anything in the return had become incorrect because of the operation of this section.

(5) Except as provided by [F6 subsections (5A) and (6)], the relevant date is—

(a) for corporation tax purposes, 1 April 2012, and

(b) for income tax purposes, 6 April 2012.

[F7 (5A) Except as provided by subsection (6), in the case of expenditure incurred on plant or machinery used or for use in Northern Ireland, the relevant date is—

(a) for corporation tax purposes, 1 April 2013, and

(b) for income tax purposes, 6 April 2013.]

(6) In the case of expenditure incurred on a combined heat and power system, the relevant date in relation to subsection (1)(b) is—

(a) for corporation tax purposes, 1 April 2014, and

(b) for income tax purposes, 6 April 2014.]]

Textual Amendments

F1 Ss. 45A-45C inserted (with effect as mentioned in s. 65 of the amending Act) by Finance Act 2001 (c. 9), s. 65, Sch. 17 para. 2 (with Sch. 17 para. 6)

F2 S. 45AA inserted (17.7.2012) by Finance Act 2012 (c. 14), s. 45(3)

F3 Words in s. 45AA heading substituted (17.7.2013) by Finance Act 2013 (c. 29), s. 67(5)

F4 Words in s. 45AA(1)(a) inserted (17.7.2013) by Finance Act 2013 (c. 29), s. 67(2)(a)

F5 Words in s. 45AA(1)(b) inserted (17.7.2013) by Finance Act 2013 (c. 29), s. 67(2)(b)

F6 Words in s. 45AA(5) substituted (17.7.2013) by Finance Act 2013 (c. 29), s. 67(3)

F7 S. 45AA(5A) inserted (17.7.2013) by Finance Act 2013 (c. 29), s. 67(4)