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Changes over time for: Section 56A


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 06/04/2024.
Changes to legislation:
Capital Allowances Act 2001, Section 56A is up to date with all changes known to be in force on or before 07 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.

Changes to Legislation
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[56AWriting-down allowances for small poolsU.K.
This section has no associated Explanatory Notes
(1)This section applies in relation to the main pool and the special rate pool.
(2)Where the amount by which AQE exceeds TDR is less than or equal to the small pool limit, the amount of the writing-down allowance to which a person is entitled for a chargeable period is the amount by which AQE exceeds TDR.
(3)The small pool limit is £1,000, except that—
(a)if the chargeable period is more or less than a year, it is proportionately increased or reduced, and
(b)if the qualifying activity has been carried on for part only of the chargeable period, it is proportionately reduced.
(4)A person claiming a writing-down allowance under this section may require the allowance to be reduced to a specified amount.
(5)The Treasury may by order substitute for the amount for the time being specified in subsection (3) such other amount as it thinks fit.
(6)An order under subsection (5) may make such incidental, supplemental, consequential and transitional provision as the Treasury thinks fit.]
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