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Finance Act 2000
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Changes and effects yet to be applied to Schedule 22 Paragraph 99:
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- Sch. 12 (except para. 17 18) repealed by 2003 c. 1 Sch. 8 Pt. 1
- Sch. 22 para. 99(5) inserted by 2008 c. 9 s. 80(7)(b)
- Sch. 22 para. 99(5) omitted by 2011 c. 11 s. 57(6)(c)
- Sch. 22 para. 99(1)(a) text amended by 2003 c. 14 Sch. 32 para. 1(2) Sch. 43 Pt. 3(11)
- Sch. 22 para. 99(2) text amended by 2008 c. 9 s. 80(6)(e)
- Sch. 22 para. 99(4) text amended by 2008 c. 9 s. 80(7)(a)
- Sch. 22 para. 99(2) word substituted by 2011 c. 11 s. 10(6)(e)
- Sch. 22 para. 99(2) word substituted by 2011 c. 11 s. 10(7)(e)
- Sch. 22 para. 99(5) word substituted by 2011 c. 11 s. 10(6)(e)
- Sch. 22 para. 99(2) words substituted by 2011 c. 11 s. 57(6)(a)
- Sch. 22 para. 99(4) words substituted by 2011 c. 11 s. 57(6)(b)
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- Act applied (with modifications) by S.I. 2011/245 Sch. 6 Pt. 1
- Act modified by S.I. 2009/317 art. 3 Sch.
- Blanket amendment text amended by S.I. 2011/1043 art. 3 6
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- S.I. 2003/603 art. 2 commences (2002 c. 23)
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- S.I. 2003/1725 art. 2 commences (2002 c. 9)
- S.I. 2003/1900 art. 2 commences (2003 c. 21)
- S.I. 2003/2093 art. 2 commences (2002 c. 40)
- S.I. 2003/2622 art. 2 commences (2002 c. 23)
- S.I. 2003/3142 art. 2-4 commences (2002 c. 11 and 2003 c. 21)
- S.I. 2004/2066 art. 2 commences (2003 c. 39)
- S.I. 2004/3268 art. 2 commences (2004 c. 12)
- S.I. 2005/123 art. 2 commences (2004 c. 12)
- S.I. 2005/950 art. 2-4 commences (2003 c. 44)
- S.I. 2005/1126 art. 2 commences (2005 c. 11)
- S.I. 2005/1713 art. 2 commences (2003 c. 14)
- S.I. 2005/2122 art. 2 amendment to earlier commencing SI 2005/950 Sch. 2 para. 23
- S.I. 2007/2901 art. 2 commences (2006 c. 25)
- S.I. 2007/2902 art. 2 commences (2007 c. 11)
- S.I. 2008/1928 art. 2 commences (2008 c. 9)
- S.I. 2009/511 art. 2 commences (2008 c. 9)
- S.I. 2009/571 art. 2-5 commences (2008 c. 9)
- S.I. 2010/815 art. 2 commences (2009 c. 10)
- S.I. 2010/867 art. 2 commences (2009 c. 10)
- S.R. 2006/21 art. 2 commences (S.I. 2005/1455 (N.I.))
- S.R. 2006/22 art. 2-7 transitional provisions for effects of SR 2006/21
- S.R. 2006/63 art. 2 commences (S.I. 2004/1501 (N.I.))
- S.R. 2007/37 art. 2 commences (S.I. 2006/3337 (N.I.))
99(1)The provisions of this paragraph apply where—E+W+S+N.I.
(a)the lessor under a finance lease has been entitled to capital allowances in circumstances in which paragraph 94 (quantitative restrictions on allowances) applied, and
(b)a change of circumstances takes the case out of paragraph 89(1) so that the restrictions in paragraph 94 no longer apply.
(2)When the change of circumstances occurs a disposal value shall be brought into account by the lessor equal to the tax written down value of the ship as at that time.
The provisions of paragraph 97 (treatment of disposal proceeds) apply as regards the allocation of that amount to the lessor’s 25% and 10% pools.
(3)The lessor shall be treated as if he had incurred qualifying expenditure on the provision of the ship for the purposes of the lessee’s non-tonnage tax trade immediately after the change of circumstances occurs.
(4)The amount of that expenditure shall be taken to be the whole of the expenditure on the ship that would have qualified for capital allowances if paragraph 94 had never applied, written down at 25% per annum on the reducing balance for the period beginning with the time when it was actually incurred and ending when the change of circumstances occurs.
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