Finance Act 2002 (c. 23)

Part 3 U.K. Income tax, corporation tax and capital gains tax

Chapter 2 U.K. Other provisions

Capital allowances and related matters U.K.

59 Cars with low carbon dioxide emissions U.K.

Schedule 19 to this Act (first-year allowances in respect of expenditure on cars with low CO₂ emissions and exemption from single asset pool rules) has effect in relation to expenditure incurred on or after 17th April 2002.

F1 60 Expense of hiring cars with low carbon dioxide emissions U.K.

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Textual Amendments

F1 S. 60 repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

61 Plant or machinery for gas refuelling station: first-year allowances U.K.

Schedule 20 to this Act (first-year allowances in respect of expenditure on plant or machinery for gas refuelling station) has effect in relation to expenditure incurred on or after 17th April 2002.

F2 62 Expenditure on green technologies: leasing U.K.

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Textual Amendments

F2 S. 62 repealed (with effect in accordance with Sch. 26 Pt. 3(13) Note of the amending Act) by Finance Act 2006 (c. 25), Sch. 26 Pt. 3(13)

63 First-year allowances for expenditure wholly for a ring fence trade U.K.

(1) Schedule 21 to this Act shall have effect.

(2) In that Schedule—

(a) Part 1 makes provision for and in connection with first-year allowances under Part 2 of the Capital Allowances Act 2001 in respect of expenditure incurred by a company on the provision of plant or machinery for use wholly for the purposes of a ring fence trade chargeable to tax under [F3 section 330(1) of the Corporation Tax Act 2010]; and

(b) Part 2 makes provision for and in connection with first-year allowances under Part 5 of that Act (mineral extraction allowances) in respect of expenditure incurred by a company wholly for the purposes of such a trade.

(3) The amendments made by that Schedule have effect in relation to expenditure incurred on or after 17th April 2002.

Textual Amendments

F3 Words in s. 63(2)(a) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 371 (with Sch. 2)