SCHEDULES

SCHEDULE 39Repeal of miscellaneous reliefs etc

PART 5Capital allowances

Flat conversion allowances

42

1

Nothing in paragraph 37 or 40(1) is to affect the operation of—

a

section 393I of CAA 2001 (withdrawal of allowance if flat not qualifying flat or if relevant interest sold before flat first let), or

b

sections 393M to 393P of CAA 2001 (balancing adjustments),

for chargeable periods beginning on or after the relevant date in relation to expenditure incurred before that date.

2

The relevant date is—

a

for corporation tax purposes, 1 April 2013, and

b

for income tax purposes, 6 April 2013.