SCHEDULES

SCHEDULE 27Abolition of allowances: consequential amendments and savings

Part 1Consequential amendments

Commencement

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(1)

Subject to sub-paragraph (2), this Part of this Schedule has effect in relation to chargeable periods (within the meaning of CAA 2001) beginning on or after—

(a)

for corporation tax purposes, 1 April 2011, and

(b)

for income tax purposes, 6 April 2011.

(2)

The amendments made by paragraph 5 have effect in relation to a transfer by the past owner (within the meaning of section 186 of CAA 2001) in such a chargeable period.