PART 1Income Tax, Corporation Tax and Capital Gains Tax
CHAPTER 5Other provisions
Capital allowances
70First-year allowance to be available for ships and railway assets
1
In section 46(2) of CAA 2001 (general exclusions from first-year allowance), omit—
a
general exclusion 3 (ships), and
b
general exclusion 4 (railway assets),
and the italicised headings preceding them.
2
The amendments made by this section have effect for expenditure incurred on or after 1 April 2013.