Finance Act 2014 (c. 26)

SCHEDULES

SCHEDULE 1 Corporation tax rates

PART 2 Amendments consequential on Part 1 of this Schedule

Capital Allowances Act 2001

8 In section 99 of CAA 2001 (long-life assets: the monetary limit)—

(a) in subsection (4)—

(i) for “If, in a chargeable period, a company has one or more associated companies” substitute “In the case of a company (“C”), if, in a chargeable period, one or more companies are related 51% group companies of C”, and

(ii) for “number of associated” substitute “number of related 51% group”, and

(b) omit subsection (5).