Capital Allowances Act 2001

567 Sales treated as being for alternative amount: introductory U.K.

(1) Sections 568 to 570 apply for the purposes of Parts F1 ... [F2 3A,] F1 ... F3 ... 5, 6 and 10.

(2) For the purposes of sections 568 to 570, the control test is met if—

(a) the buyer is a body of persons over whom the seller has control,

(b) the seller is a body of persons over whom the buyer has control,

(c) both the seller and the buyer are bodies of persons and another person has control over both of them, or

(d) the seller and the buyer are connected persons.

(3) In subsection (2) “ body of persons ” includes a partnership.

(4) For the purposes of sections 568 to 570, the tax advantage test is met if it appears that the sole or main benefit which might be expected to accrue from—

(a) the sale, or

(b) transactions of which the sale is one,

is the obtaining of a tax advantage by all or any of the parties under any provision of this Act except Part 2.

(5) Sections 568 to 570 do not apply if section 561 applies ([F4 transfer or division of UK business]).

Textual Amendments

F1 Word in s. 567(1) omitted (with effect in accordance with Sch. 27 para. 30(1) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 27 para. 14

F2 Word in s. 567(1) inserted (with effect in accordance with s. 92 of the amending Act) by Finance Act 2005 (c. 7), Sch. 6 para. 7; S.I. 2007/949, art. 2

F3 Word in s. 567(1) omitted (with effect in accordance with Sch. 39 para. 40 of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 39 para. 38(4) (with Sch. 39 paras. 41, 42)

F4 Words in s. 567(5) substituted (31.12.2020) by The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 10(7) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)

Modifications etc. (not altering text)

C1 Ss. 567-570 excluded (E.W.S.) (8.6.2005) by Railways Act 2005 (c. 14), s. 60(2), Sch. 10 para. 4(4); S.I. 2005/1444, art. 2(1), Sch. 1

C2 Ss. 567-570 excluded (E.W.S.) (24.7.2005) by Railways Act 2005 (c. 14), s. 60(2), Sch. 10 para. 24(4); S.I. 2005/1909, art. 2, Sch.

C3 Ss. 567-570 excluded (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 21(6)

C4 Ss. 567-570 excluded (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 38(6)