Part 2

Plant and machinery allowances
Chapter 12

Ships

Attribution of deferred amounts

Variation of attribution
142
1
The shipowner may, by notice, vary an attribution under section 140 (notice attributing deferred amounts to new expenditure).
2
The notice must be given to the Inland Revenue on or before the time limit for the shipowner to make a claim for deferment in respect of the relevant chargeable period.
3
For the time limit for making a claim for deferment, see section 135(3) to (5).
4
For the purposes of subsection (2), it is to be assumed that—
a
the shipowner is liable to a balancing charge for the relevant chargeable period, and
b
a claim for deferment of that balancing charge can be made for the relevant chargeable period.
5
“The relevant chargeable period” means the earliest chargeable period in which expenditure to which the variation relates is incurred.
6
If the person to whose expenditure the notice relates is not the shipowner, a notice under subsection (1) does not have effect unless the person joins the shipowner in giving it.