Modifications etc. (not altering text)
C1 S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7
(1)Subsections (2) and (3) apply for the purposes of contribution allowances under [F1Parts 3, 4 and 5] if—
(a)C’s contribution was made for the purposes of C’s trade or relevant activity, and
(b)the whole or a part of the trade or relevant activity is subsequently transferred.
(2)If the whole of the trade or relevant activity is transferred, writing-down allowances for chargeable periods ending after the date of the transfer are to be made to the transferee instead of to the transferor.
(3)If a part of the trade or relevant activity is transferred, writing-down allowances for chargeable periods ending after the date of the transfer are to be made to the transferee instead of to the transferor to the extent that they are properly referable to the part transferred.
Textual Amendments
F1Words in s. 542(1) substituted (with effect as mentioned in s. 67 of the amending Act) by Finance Act 2001 (c. 9), s. 67, Sch. 19 Pt. 2 para. 4