Part 11 Contributions
Chapter 2 Contribution allowances
Contribution allowances under F1Parts 2, 3, 4 and 5
Annotations:
Amendments (Textual)
541 Mineral extraction
1
This section is about contribution allowances under Part 5 and applies if—
a
the general conditions for contribution allowances are met, and
b
C’s contribution is made for the purposes of a trade carried on, or to be carried on, by C.
2
C is to be treated for the purposes of allowances under Part 5 as if—
a
the contribution were expenditure incurred by C on the provision, for the purposes of C’s trade, of an asset similar to that provided by means of C’s contribution, and
b
the asset were at all material times in use for the purposes of C’s trade.
Words in s. 537(1) cross-heading substituted (with effect in accordance with s. 92 of the amending Act) by Finance Act 2005 (c. 7), Sch. 6 para. 5; S.I. 2007/949, art. 2