63 First-year allowances for expenditure wholly for a ring fence tradeU.K.
(1)Schedule 21 to this Act shall have effect.
(2)In that Schedule—
(a)Part 1 makes provision for and in connection with first-year allowances under Part 2 of the Capital Allowances Act 2001 in respect of expenditure incurred by a company on the provision of plant or machinery for use wholly for the purposes of a ring fence trade chargeable to tax under section 501A of the Taxes Act 1988 (inserted by section 91 of this Act); and
(b)Part 2 makes provision for and in connection with first-year allowances under Part 5 of that Act (mineral extraction allowances) in respect of expenditure incurred by a company wholly for the purposes of such a trade.
(3)The amendments made by that Schedule have effect in relation to expenditure incurred on or after 17th April 2002.