- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
13(1)Section 419 is amended as follows.
(2)In subsection (1) (amount of qualifying expenditure which is unrelieved qualifying expenditure for the chargeable period in which the expenditure is incurred) for “the whole of it” substitute—
“(a)the whole of it, unless the expenditure is first-year qualifying expenditure, or
(b)if the expenditure is first-year qualifying expenditure, none of it,
but paragraph (b) is subject to subsections (3) to (5).”.
(3)After subsection (2) insert—
“(3)If, in the case of expenditure which is first-year qualifying expenditure, a disposal receipt falls to be brought into account for the chargeable period in which the expenditure is incurred (“the initial period”), subsection (4) below applies.
(4)Where this subsection applies, the unrelieved balance of the expenditure shall be taken to be unrelieved qualifying expenditure for the initial period, but only for the purpose specified in subsection (5).
(5)The purpose is that of determining in accordance with sections 417 and 418—
(a)any question whether the person who incurred the expenditure—
(i)is entitled to a balancing allowance for the initial period, or
(ii)is liable to a balancing charge for that period, and
(b)if so, the amount of that balancing allowance or balancing charge.
(6)In this section “the unrelieved balance of the expenditure” means so much of the first-year qualifying expenditure in question as remains after deducting the amount of any first-year allowance given in respect of the whole or any part of that expenditure.”.
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