Capital Allowances Act 2001 (c. 2)
521(1)Amend Schedule A1 (first-year tax credits) as follows.
(2)In paragraph 5—
(a)in sub-paragraph (1) for “Schedule A business” substitute “UK property business”, and
(b)in sub-paragraph (2) for “(Schedule A losses)” substitute “(UK property business losses)”.
(3)In paragraph 7—
(a)in sub-paragraph (1)(a) for “Schedule A business” substitute “UK property business”, and
(b)in sub-paragraph (3) for “Schedule A business” substitute “UK property business”.
(4)In paragraph 8(2) for paragraph (a) substitute—
“(a)the sum of the amounts mentioned in section 1223(2) of CTA 2009, exceeds”.
(5)In paragraph 11(4) for paragraphs (a) to (d) substitute—
“(a)Chapter 2 or 7 of Part 13 of CTA 2009 (tax credits for expenditure on research and development or vaccine research etc),
(b)Chapter 3 of Part 14 of that Act (tax credits for remediation of contaminated land), and
(c)Chapter 3 of Part 15 of that Act (film tax credits).”
(6)In paragraph 12—
(a)in sub-paragraph (1) for “Schedule A business” substitute “UK property business”, and
(b)in sub-paragraph (2)(c) for “Part 3 of Schedule 22 to FA 2001” substitute “Chapter 3 of Part 14 of CTA 2009”.
(7)In paragraph 14—
(a)in sub-paragraph (1)(a) for “Schedule A business” substitute “UK property business”,
(b)in sub-paragraph (4)(a) for “Part 3 of Schedule 22 to FA 2001” substitute “Chapter 3 of Part 14 of CTA 2009”, and
(c)in sub-paragraph (6)(b) for “paragraph 4(4) of Schedule 11 to FA 1996” substitute “section 391(3)(b) of CTA 2009”.
(8)In paragraph 15(3) for “section 75(9) of that Act” substitute “section 1223 of CTA 2009”.
(9)In paragraph 16—
(a)in sub-paragraph (2)(a) for “Part 4 of Schedule 22 to FA 2001” substitute “Chapter 4 of Part 14 of CTA 2009”, and
(b)in sub-paragraph (3)(b) for “paragraph 4(4) of Schedule 11 to FA 1996” substitute “section 391(3)(b) of CTA 2009”.
(10)In paragraph 20—
(a)in sub-paragraph (b) for “section 75(9) of that Act (relief of expenses and charges against future profits)” substitute “section 1223 of CTA 2009 (carrying expenses forward)”,
(b)in sub-paragraph (c)—
(i)for “Schedule A business” substitute “UK property business”,
(ii)for “Schedule A losses” substitute “UK property business losses”, and
(iii)for “that Act” substitute “ICTA”, and
(c)in sub-paragraph (d) for “that Act” substitute “ICTA”.
(11)In paragraph 21(1) for “Schedule A business” substitute “UK property business”.