Schedules
SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Capital Allowances Act 2001
364
1
Amend Schedule A1 (first-year tax credits) as follows.
2
In paragraph 1—
a
in sub-paragraph (4) for the words from “entitled” to the end substitute
entitled to make—
a
a claim under section 642 or 643 of CTA 2010 (reliefs for co-operative housing associations),
b
a claim under section 651 or 652 of CTA 2010 (reliefs for self-build societies), or
c
a relevant claim under Part 11 of CTA 2010 (charitable companies etc).
b
after sub-paragraph (4) insert—
5
For the purposes of sub-paragraph (4)(c) a claim under Part 11 of CTA 2010 is a relevant claim unless—
a
it is a claim for exemption under—
i
section 475 or 476 (reliefs for certain heritage bodies etc),
ii
section 480 (exemption for profits of small-scale trades), or
iii
section 481 (exemption from charges under provisions to which section 1173 of CTA 2010 applies), or
b
the company is entitled to make it only by virtue of section 490 (application of exemptions to certain heritage bodies etc).
3
In paragraph 5(2) for “section 392A of ICTA (UK property business losses) applies” substitute “
sections 62 and 63 of CTA 2010 (UK property business losses) apply (see section 64 of that Act)
”
.
4
In paragraph 6(2)—
a
for “section 392B of ICTA” substitute “
section 66 of CTA 2010
”
, and
b
after “applies” insert “
(see section 67 of that Act)
”
.
5
In paragraph 11—
a
in sub-paragraph (2)(a) for “section 393A(1)(a) of ICTA to set the loss against profits of whatever description” substitute “
section 37(3)(a) of CTA 2010 to deduct the loss from total profits
”
,
b
in sub-paragraph (2)(b) for “section 393A(1)(b) or 393B(3) of that Act (losses set against” substitute “
section 37(3)(b) or 42 of that Act (losses deducted from
”
,
c
in sub-paragraph (2)(c) for “section 403(1)” substitute “
Part 5
”
,
d
in sub-paragraph (2)(e) for “section 400” substitute “
Chapter 7 of Part 4
”
,
e
in sub-paragraph (3)(a) for “section 393(1) of ICTA” substitute “
section 45 of CTA 2010
”
,
f
in sub-paragraph (3)(b) for “section 393A(1)(b) or 393B(3)” substitute “
section 37(3)(b) or 42
”
, and
g
in sub-paragraph (3)(c) for “section 395” substitute “
section 53
”
.
6
In paragraph 12—
a
in sub-paragraph (2)(a) for “section 392A(1) of ICTA to set the loss against profits of whatever description” substitute “
section 62(1) to (3) of CTA 2010 to deduct the loss from total profits
”
,
b
in sub-paragraph (2)(b) for “section 403(1)” substitute “
Part 5
”
,
c
in sub-paragraph (2)(d) for “section 400 of ICTA” substitute “
Chapter 7 of Part 4 of CTA 2010
”
, and
d
in sub-paragraph (3) for “section 392A(2) of ICTA” substitute “
section 62(5) of CTA 2010
”
.
7
In paragraph 13—
a
in sub-paragraph (2) for “section 400 of ICTA” substitute “
Chapter 7 of Part 4 of CTA 2010
”
, and
b
in sub-paragraph (3) for “section 392B(1) of ICTA” substitute “
section 66 of CTA 2010
”
.
8
In paragraph 14(4)(b) for “set of against the loss under section 400 of ICTA” substitute “
set off against the loss under Chapter 7 of Part 4 of CTA 2010
”
.
9
In paragraph 15(2)—
a
in paragraph (a) for “section 403(1) of ICTA” substitute “
Part 5 of CTA 2010
”
, and
b
in paragraph (b) for “section 400” substitute “
Chapter 7 of Part 4
”
.
10
In paragraph 16(2)(b) for “section 400 of ICTA” substitute “
Chapter 7 of Part 4 of CTA 2010
”
.
11
In paragraph 20—
a
in sub-paragraph (a) for “section 393 of ICTA” substitute “
section 45 of CTA 2010
”
,
b
in sub-paragraph (c) for “section 392A(2) of ICTA” substitute “
section 62(5) of CTA 2010
”
, and
c
in sub-paragraph (d) for “section 392B of ICTA” substitute “
section 66 of CTA 2010
”
.