SCHEDULES
SCHEDULE 2Annual investment allowance: transitional provisions etc
PART 1Transitional provisions
Chargeable periods which straddle start date
1
1
This paragraph applies in relation to a chargeable period which begins before the start date and ends on or after that date (“the first straddling period”).
For “the start date”, see section 10(3).
2
The maximum allowance under section 51A of CAA 2001 for the first straddling period is the sum of each maximum allowance that would be found if—
a
so much (if any) of the first straddling period as falls before 1 January 2013,
b
so much of the first straddling period as falls on or after that date but before the start date, and
c
so much of the first straddling period as falls on or after the start date,
were each treated as separate chargeable periods.
3
But this is subject to paragraphs 2 and 3.