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Capital Allowances Act 2001

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Changes over time for: Section 104D

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[F1104DWriting-down allowances at [F28% or] 10%U.K.
This section has no associated Explanatory Notes

(1)The amount of the writing-down allowance to which a person is entitled for a chargeable period in respect of expenditure which is special rate expenditure is [F38%] of the amount by which AQE exceeds TDR (see Chapter 5).

[F4(1A)But, in relation to special rate expenditure incurred wholly for the purposes of a ring fence trade in respect of which tax is chargeable under section 330(1) of CTA 2010 (supplementary charge in respect of ring fence trades), the amount of the writing-down allowance to which a person is entitled for a chargeable period is 10% of the amount by which AQE exceeds TDR.]

(2)Subsection (1) applies even if the special rate expenditure is in a single asset pool.

(3)In the case of expenditure in the special rate pool, this section is subject to section 56A (writing-down allowance for small pools).

(4)Subsections (3) and (4) of section 56 (proportionate increases or reductions in amount in certain cases) apply for the purposes of subsection (1) of this section as they apply for the purposes of subsection (1) of that section.]

Textual Amendments

F1Pt. 2 Ch. 10A inserted (with effect in accordance with Sch. 26 para. 14 of the amending Act) by Finance Act 2008 (c. 9), Sch. 26 para. 2

F2Words in s. 104D heading inserted (with effect in accordance with s. 10(8)-(13) of the amending Act) by Finance Act 2011 (c. 11), s. 10(4)(a)

F3Word in s. 104D(1) substituted (with effect in accordance with s. 10(8)-(13) of the amending Act) by Finance Act 2011 (c. 11), s. 10(3)(a)

F4S. 104D(1A) inserted (with effect in accordance with s. 10(8)-(13) of the amending Act) by Finance Act 2011 (c. 11), s. 10(3)(b)

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