SCHEDULES

SCHEDULE 24Annual investment allowance

Part 1Amendments of CAA 2001

12

1

Section 241 (no first-year allowance in respect of additional VAT liability) is amended as follows.

2

In subsection (1)(b), before “a first-year” insert “an annual investment allowance or”.

3

In subsection (2), for “A first-year allowance is not” substitute “No annual investment allowance or first-year allowance is”.

4

In subsection (3), after “Any” insert “annual investment allowance or”.

5

In the heading, after “No” insert “annual investment allowance or”.