PART 1Income tax, corporation tax and capital gains tax
CHAPTER 4Other provisions
Capital allowances
45Zero-emission goods vehicles
1
CAA 2001 is amended as follows.
2
In section 45DA(1)(a) (period during which first-year qualifying expenditure may be incurred), for “5 years” substitute “8 years”.
3
Section 45DB (exclusions from allowances under section 45DA) is amended in accordance with subsections (4) to (7).
4
In subsection (7), omit “notified” (in both places).
5
In subsection (8), omit “to that extent”.
6
In subsection (11), omit the definition of “notified State aid”.
7
After that subsection insert—
11A
Nothing in this section limits references to “State aid” to State aid which is required to be notified to and approved by the European Commission.
8
The amendments made by subsections (3) to (7) have effect—
a
in relation to a relevant grant or relevant payment made at any time (whether before or on or after the specified day) towards expenditure incurred on or after that day, and
b
in relation to a relevant grant or relevant payment made on or after the specified day towards expenditure incurred before that day.
9
“The specified day” means—
a
for income tax purposes, 6 April 2015, and
b
for corporation tax purposes, 1 April 2015.
46Plant and machinery allowances: anti-avoidance
Schedule 10 contains provision about plant and machinery allowances.