Capital Allowances Act 1990

143 Tax agreements

(1) This section applies in any case where a person is entitled to an allowance to which section 140 or 141 applies for a year of assessment and—

(a) he and the inspector have come to an agreement, in writing, as to the extent to which the allowance is to be given effect in that year (whether by deduction from profits or gains or by discharge or repayment of tax, or both); and

(b) no assessment giving effect to the allowance is made for that year.

(2) In a case to which this section applies the allowance shall be taken to have been given effect in the year of assessment in question, as if an assessment had been made, to the extent set out in the agreement mentioned in subsection (1) above.