Summary
1.Section 26 and Schedule 4 provide for the introduction of legislation to prevent tax avoidance through the transfer of an entitlement to benefit from capital allowances on plant and machinery used for the purpose of a trade, where the tax written down value of the plant and machinery exceeds its balance sheet value. The legislation has effect from 21 July 2009. Transfers of an entitlement to postponed allowances on ships are included within the scope of these rules but only with effect from 9 December 2009.