74 Single asset poolU.K.
(1)Qualifying expenditure incurred on the provision of a car to which this section applies, if allocated to a pool, must be allocated to a single asset pool.
(2)This section applies to a car if—
(a)the car is not a qualifying hire car (as defined by section 82), F1...
(b)the capital expenditure incurred on its provision for the purposes of the qualifying activity exceeds £12,000.[F2, and
(c) the qualifying expenditure incurred on the provision of the car is not first-year qualifying expenditure under section 45D (expenditure on cars with low CO 2 emissions) ]
(3)In this Chapter “car” has the meaning given by section 81 (extended meaning of “car”).
(4)The Treasury may by order increase or further increase the sums of money specified in subsection (2) and in sections 75 and 76.
Textual Amendments
F1Word in s. 74(2) repealed (with effect as mentioned in s. 59 of the amending Act) by Finance Act 2002 (c. 23), s. 141, (Sch. 40 Pt. 3(7) note)
F2S. 74(2)(c) and word inserted (with effect as mentioned in s. 59 of the amending Act) by Finance Act 2002 (c. 23), s. 59, Sch. 19 para. 6
Modifications etc. (not altering text)
C1S. 74(2) modified by 1993 c. 34, s. 93A(6) (as inserted (with effect as mentioned in s. 80(2) of the inserting Act) by Finance Act 2002 (c. 23), s. 80, Sch. 24 para. 4(with Sch. 23 para. 25))