PART 4Miscellaneous and final

Freeports

114Capital allowances for freeport tax sites

(1)

Schedule 22 makes provision about capital allowances for expenditure incurred in connection with freeport tax sites.

(2)

In that Schedule —

(a)

Part 1 provides for a first-year allowance under Part 2 of CAA 2001 (plant and machinery allowances),

(b)

Part 2 provides for a different rate of allowance under Part 2A of CAA 2001 (structures and buildings allowances), and

(c)

Part 3 contains related amendments.