The Companies Act 2006 (Consequential Amendments) (Taxes and National Insurance) Order 2008

The Capital Allowances Act 2001 (c. 2)

Introduction

27.  The Capital Allowances Act 2001 is amended as follows.

Expenditure of small or medium-sized enterprises: companies

28.—(1) Amend section 47 as follows.

(2) In subsection (4)—

(a) for “Except in the case of a company formed and registered in Northern Ireland” substitute “In this section”;

(b) in paragraph (a) for “section 247 of the Companies Act 1985” substitute “sections 382 and 465 of the Companies Act 2006”;

(c) in paragraph (b) for “Part VII of the 1985 Act” substitute “section 390 of the Companies Act 2006”.

(3) Omit subsection (5).

(4) In subsection (6)—

(a) in paragraph (a) for “the 1985 Act” substitute “the Companies Act 1985”;

(b) in paragraph (b) for “the 1986 Order” substitute “the Companies (Northern Ireland) Order 1986”.

Expenditure of small or medium-sized enterprises: businesses

29.—(1) Amend section 48 as follows.

(2) In subsection (8)—

(a) for “Except in the case of a business carrying on a qualifying activity wholly or mainly in Northern Ireland” substitute “In this section”;

(b) in paragraph (a) for “section 247 of the Companies Act 1985” substitute “sections 382 and 465 of the Companies Act 2006”;

(c) in paragraph (b) for “Part VII of that Act” substitute “section 390 of the Companies Act 2006”.

(3) Omit subsection (9).

Whether company is a member of a large or medium-sized group

30.—(1) Amend section 49 as follows.

(2) In subsection (6) for paragraphs (a) and (b) substitute “sections 383 and 466 of the Companies Act 2006.”.

(3) For subsection (8) substitute—

“(8) In this section—

“financial year” and “group” have the same meaning as in Part 15 of the Companies Act 2006;

“parent undertaking” and “subsidiary undertaking” have the same meaning as in section 1162 of that Act.”.