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Capital Allowances Act 2001

Section 383: Proceeds from balancing events

1318.This section is based on parts of sections 128(2) and 156 of CAA 1990. It defines the “proceeds from balancing events”.

1319.Subsection (1) brings together material from sections 128(2)(b) and 156 of CAA 1990 in a Table linking each of the balancing events from section 381(2) to the proceeds. The third item in the Table follows from the minor change in section 381(2)(c). See Change 44 in Annex 1.

1320.Subsection (2) makes clear the proceeds from an event are those received or receivable by the person who has liability to the charge or entitlement to the allowance.

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