SCHEDULES
SCHEDULE 7 Transfer schemes relating to BBC transmission network: taxation provisions
Capital allowances: F2plant and machinery
Annotations:
Amendments (Textual)
14
1
For the purposes of F1Part 2 of the Capital Allowances Act (plant and machinery allowances) property which is transferred to a successor company in accordance with a preparatory scheme shall be treated as if—
a
it had been acquired by the successor company, for the purposes for which it is used by that company on and after the date on which the transfer of the property in accordance with the scheme takes effect, on that date; and
b
capital expenditure of the prescribed amount had been incurred on that date by the successor company on the acquisition of the property for the purposes mentioned in paragraph (a).
2
This paragraph shall not have effect in relation to any property if paragraph 12(3) has effect in relation to it.
Sch. 7 para. 14: words in cross-heading substituted (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 578, 579(1), Sch. 2 para. 97(6)(a)