Finance Act 2008 (c. 9)

Part 3 U.K. Capital allowances

Industrial and agricultural buildings allowances U.K.

84 Abolition of allowances from 2011 U.K.

(1) Parts 3 and 4 of CAA 2001 (industrial buildings allowances and agricultural buildings allowances) do not apply in relation to expenditure incurred on or after the relevant date.

(2) Omit those Parts of that Act.

(3) The amendment made by subsection (2) has effect in relation to chargeable periods beginning on or after the relevant date.

(4) The relevant date is—

(a) for corporation tax purposes, 1 April 2011, and

(b) for income tax purposes, 6 April 2011.

(5) Schedule 27 contains amendments and savings related to this section.

F1 85 Phasing out of allowances before abolition U.K.

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Textual Amendments

F1 S. 85 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. 29(a)

F2 86 Qualifying enterprise zone expenditure: transitional provision U.K.

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Textual Amendments

F2 S. 86 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. 29(b)

F3 87 Phasing out of industrial buildings allowance: anti-avoidance U.K.

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Textual Amendments

F3 S. 87 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. 29(c)