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Capital Allowances Act 2001

Overview

363.This Chapter makes special provisions for cars (and motorbikes) costing over £12,000. It includes definitions which are used for other sections in Part 2.

364.The Chapter:

  • requires a single asset pool for expenditure over £12,000 on a car (other than a qualifying hire car) (section 74);

  • restricts writing-down allowances to a maximum of £3,000 a year (section 75);

  • restricts writing-down allowances further if part of the expenditure is met by another person, the car is use only partly for the qualifying activity, or there is a depreciation subsidy (sections 76 to 78);

  • makes additional provision for the disposal value if:

    • a person ceases to own a car in a transaction within Chapter 17; or

    • an employee or office-holder has claimed capital allowances for some years and for other years used the administrative fixed profit car scheme instead.

365.Sections 81 and 82 define “car” and “qualifying hire car” for the purposes not just of this Chapter but for Part 2 generally.

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