Part 2 Plant and machinery allowances

F1Chapter 16ARestrictions on allowance buying

Introduction

212BWhere Chapter applies

(1)

This Chapter applies where—

(a)

C carries on F2a qualifying activity (“the relevant activity”) (whether or not in partnership with another person or other persons),

(b)

there is a qualifying change in relation to C on any day (“the relevant day”),

(c)

C, or (where the relevant F3activity is carried on in partnership) the partnership (“P”), has a relevant excess of allowances in relation to the relevant F3activity, and

F4(d)

the qualifying change meets one of the limiting conditions.

(2)

Sections 212C to 212I specify when there is a qualifying change in relation to C on the relevant day.

(3)

Sections 212J to 212L specify when C or P has a relevant excess of allowances in relation to the relevant F5activity.

F6(4)

Sections 212LA and 212M set out the limiting conditions and specify when those conditions are met.

(5)

Sections 212N to 212S make provision about what happens when this Chapter applies.