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SCHEDULES

SCHEDULE 26E+W+S+N.I.Restrictions on buying capital allowances

Extension of restrictions to other qualifying activitiesE+W+S+N.I.

5(1)Section 212B (circumstances where Chapter 16A applies) is amended as follows.E+W+S+N.I.

(2)In subsection (1)—

(a)in paragraph (a), for “a trade (“the relevant trade”)” substitute “ a qualifying activity (“the relevant activity”) ”, and

(b)in paragraph (c), for “trade” (in both places) substitute “ activity ”.

(3)In subsection (3) for “trade” substitute “ activity ”.

6(1)Section 212C (when there is a a qualifying change in relation to C) is amended as follows.E+W+S+N.I.

(2)In subsection (4)—

(a)after “Condition C is that” insert “ the relevant activity is a trade (within the meaning of this Part) and ”, and

(b)for “trade”, where it appears after “the relevant” (in both places), substitute “ activity ”.

(3)In subsection (5) for “trade” (in both places) substitute “ activity ”.

7(1)Section 212I (relevant percentage share) is amended as follows.E+W+S+N.I.

(2)In subsections (1) and (3) for “trade” substitute “ activity ”.

(3)In subsection (2) for “a trade” substitute “ an activity ”.

8In section 212J(1) (relevant excess of allowances) for “trade” substitute “ activity ”.E+W+S+N.I.

9In section 212K(2), (3), (4) and (5) (relevant tax written-down value) for “trade” substitute “ activity ”.E+W+S+N.I.

10In section 212N(2), (3) and (4) (old and new accounting periods) for “trade” substitute “ activity ”.E+W+S+N.I.

11(1)Section 212P (effect of excess on pools) is amended as follows.E+W+S+N.I.

(2)In subsection (3)—

(a)for “a trade (or part of a trade)” substitute “ a qualifying activity (or part of a qualifying activity) ”,

(b)for “the activities of that trade (or part of a trade)” substitute “ that activity (or that part of an activity) ”,

(c)after “its trade” insert “ or business ”,

(d)for “those activities” substitute “ that activity (or that part) ”, and

(e)after “separate trade” insert “ or business ”.

(3)In subsection (4)—

(a)after “section 37” insert “ , 62 or 66 ”,

(b)omit “trade”,

(c)for “earlier” substitute “ other ”, and

(d)after “period)” insert “ or section 259 or 260(3) of this Act (special leasing) ”.

12(1)Section 212Q (when there are postponed capital allowances) is amended as follows.E+W+S+N.I.

(2)In subsection (3)—

(a)for “a trade (or part of a trade)” substitute “ a qualifying activity (or part of a qualifying activity) ”,

(b)for “the activities of that trade (or part of a trade)” substitute “ that activity (or that part of an activity) ”,

(c)after “its trade” insert “ or business ”,

(d)for “those activities” substitute “ that activity (or that part) ”, and

(e)after “separate trade” insert “ or business ”.

(3)In subsection (4)—

(a)after “section 37” insert “ , 62 or 66 ”, and

(b)after “CTA 2010” insert “ or section 259 or 260(3) of this Act ”.