Search Legislation

Finance Act 1989

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As enacted)

Status:

This is the original version (as it was originally enacted). This item of legislation is currently only available in its original format.

Exclusion of double allowances

28(1)Where an allowance is made to any person in respect of capital expenditure under one of the provisions specified in sub-paragraph (4) below—

(a)no allowance shall be made to him under any other of those provisions—

(i)in respect of that expenditure, or

(ii)in relation to the construction, provision or acquisition of any asset to the construction, provision or acquisition of which the first-mentioned allowance relates, and

(b)that expenditure and any expenditure relating to the provision of any asset to the provision of which the first-mentioned allowance relates shall not be taken into account in determining his qualifying expenditure for the purpose of any allowance or charge under section 44 of the [1971 c. 68.] Finance Act 1971.

(2)Where in the case of any person an allowance or charge under that section is made by reference to an amount of qualifying expenditure which took account of a particular amount of capital expenditure, no allowance shall be made to him under any of the provisions specified in sub-paragraph (4) below—

(a)in respect of that capital expenditure, or

(b)in relation to the provision of any asset if that capital expenditure related to the provision of that asset.

(3)In this paragraph—

  • “asset” means asset of any kind, including a building or structure, and

  • “capital expenditure” includes any contribution to capital expenditure,

and references to the provision of an asset include references to its construction or acquisition.

(4)The provisions referred to in sub-paragraphs (1) and (2) above are—

(a)Chapter I of Part I of the 1968 Act (industrial buildings and structures),

(b)Chapter IV of Part I of that Act (dredging),

(c)Chapter V of Part I of that Act (agricultural land and buildings),

(d)Part II of that Act (scientific research),

(e)Schedule 12 to the [1982 c. 39.] Finance Act 1982 (certain let dwelling-houses),

(f)Schedule 13 to the [1986 c. 41.] Finance Act 1986 (mineral extraction),

(g)Schedule 15 to the Finance Act 1986 (agricultural land and buildings).

(5)The following provisions (which are superseded by sub-paragraphs (1) to (4) above) shall cease to have effect—

(a)sections 9(b), 14, 50(2), 67(11) and 93(1) and (2) of the 1968 Act,

(b)paragraph 2 of Schedule 8 to the Finance Act 1971,

(c)paragraph 8 of Schedule 6 to the [1978 c. 42.] Finance Act 1978,

(d)in sections 74(6) and 75(6) of the [1980 c. 48.] Finance Act 1980, the words from the beginning to “and”,

(e)paragraph 11 of Schedule 12 to the [1982 c. 39.] Finance Act 1982, and

(f)section 56(5) of the [1986 c. 41.] Finance Act 1986,

and in section 92(5) of the 1968 Act the words “allowed or” and “balancing allowance or” shall cease to have effect.

(6)This paragraph shall have effect in relation to any chargeable period or its basis period ending on or after the day on which this Act is passed.

Back to top

Options/Help

Print Options

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources