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Finance Act 2003
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Finance Act 2003, Section 166 is up to date with all changes known to be in force on or before 03 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.
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166Expenditure on software for sub-licensingU.K.
(1)Section 45 of the Capital Allowances Act 2001 (first-year allowances for ICT expenditure incurred by small enterprises) is amended as follows.
(2)In subsection (1)(d) (expenditure must not be excluded by general exclusions in section 46) at the end insert “ or subsection (4) below ”.
(3)After subsection (3) insert—
“(4)Expenditure on an item within Class C is not first-year qualifying expenditure under this section if the person incurring it does so with a view to granting to another person a right to use or otherwise deal with any of the software in question.”.
(4)This section applies in relation to expenditure incurred on or after 26th March 2003.
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