Finance Act 2013 (c. 29)

PART 1 U.K. Income Tax, Corporation Tax and Capital Gains Tax

CHAPTER 1 U.K. Charges, rates etc

Capital allowances U.K.

7 Temporary increase in annual investment allowance U.K.

(1) In relation to expenditure incurred during the period [F1 beginning with 1 January 2013 and ending with the specified date ] , section 51A of CAA 2001 (entitlement to annual investment allowance) has effect as if in subsection (5) for “£25,000” there were substituted “ £250,000 ”.

[F2 (1A) The specified date is —

(a) for the purposes of corporation tax, 31 March 2014, and

(b) for the purposes of income tax, 5 April 2014.]

(2) Schedule 1 contains provision about chargeable periods which straddle 1 January 2013 F3 ....

Textual Amendments

F1 Words in s. 7(1) substituted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 2 para. 6(2)

F2 S. 7(1A) inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 2 para. 6(3)

F3 Words in s. 7(2) omitted (17.7.2014) by virtue of Finance Act 2014 (c. 26), Sch. 2 para. 6(4)