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 ”.