Capital Allowances Act 2001

220Allocation of expenditure to a chargeable period
This section has no associated Explanatory Notes

(1)Subject to subsection (2), if a person incurs at any time in a chargeable period capital expenditure on the provision of plant or machinery for leasing under a finance lease—

(a)the part of the expenditure which is proportional to the part of that chargeable period falling before that time is not to be taken into account in determining that person’s available qualifying expenditure for that period, but

(b)this does not prevent that part of the expenditure being taken into account in determining that person’s available qualifying expenditure for any subsequent chargeable period.

(2)Subsection (1)(a) does not apply to a chargeable period if a disposal event occurs in that period in respect of the plant or machinery.