Commencement
33.Paragraph 28(1) explains that the amendments made by this Part of the Schedule apply only to new expenditure (as defined in paragraph 27 of the legislation). Sub-paragraph (2) provides that the new section 208A of CAA (disposal value in avoidance cases) will only apply where a person disposes of a car, the expenditure on which was new expenditure. Section 79 of CAA, which is repealed, will not apply to new expenditure.
34.Paragraph 29 explains that although sections 74 to 79 are repealed, the repeal is only effective for “old” expenditure for chargeable periods beginning on or after 1 (for persons within the charge to corporation tax) or 6 (for persons within the charge to income tax) April 2014.
35.Sub-paragraph (1) provides that the new rules do not apply to old expenditure until the first chargeable period beginning on or after the third relevant date (see paragraph 26); sections 74 to 78 of CAA will continue to apply to old expenditure until then.
36.Sub-paragraph (2) provides that section 79 of CAA does not apply to old expenditure for chargeable periods beginning on or after the third relevant date, but will apply to old expenditure until then.