SCHEDULES

SCHEDULE 39Repeal of miscellaneous reliefs etc

PART 5Capital allowances

Flat conversion allowances

41

1

This paragraph applies if, for corporation tax purposes, the chargeable period of a company begins before, and ends on or after, 1 April 2013.

2

The company is entitled only to the relevant proportion of any writing-down allowance for that chargeable period to which it would, but for this paragraph, have been entitled under section 393J of CAA 2001.

3

The relevant proportion is—

A Bmath

where—

A is the number of days in the chargeable period falling before 1 April 2013, and

B is the number of days in the chargeable period.