C1C5C4C3C6C7C8C9C10C11C12Part 2 Plant and machinery allowances
Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 10, 22 (with s. 38(2) ); S.I. 2004/2575 , art. 2(1) , Sch. 1
Pt. 2 modified (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 9(2), 21(2) (with s. 38(2)); S.I. 2004/2575, art. 2(1) , Sch. 1
Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 4 para. 4 ; S.I. 2004/2575 , art. 2(1) , Sch. 1
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 19
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 35
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 paras. 36, 37
Pt. 2 modified (21.7.2009) by Finance Act 2009 (c. 10), s. 24
Pt. 2 modified (17.7.2013) by Finance Act 2013 (c. 29), s. 73(7)-(11) (with s. 73(6))
Pt. 2 modified (10.6.2021) by Finance Act 2021 (c. 26), s. 9(1)(a)
Pt. 2 modified (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), s. 7
F1Chapter 16AF2Restrictions on allowance buying
Pt. 2 Ch. 16A inserted (8.4.2010) (with effect in accordance with Sch. 4 para. 5, 6 to the amending Act) by Finance Act 2010 (c. 13), Sch. 4 para. 2
Pt. 2 Ch. 16A heading substituted (with effect in accordance with Sch. 26 para. 13 of the amending Act) by Finance Act 2013 (c. 29), Sch. 26 para. 4
Qualifying change
212EPrincipal companies
1
A company (“U”) is a principal company of C if—
a
C is a qualifying 75% subsidiary of U, and
b
U is not a qualifying 75% subsidiary of another company.
2
A company (“V”) is a principal company of C if—
a
C is a qualifying 75% subsidiary of U,
b
U is a qualifying 75% subsidiary of V, and
c
V is not a qualifying 75% subsidiary of another company.
3
If V is a qualifying 75% subsidiary of another company (“W”), W is a principal company of C unless W is a qualifying 75% subsidiary of another company, and so on.
4
A company (“X”) is a principal company of C if—
a
C is owned by a consortium of which X is a member, or
b
C is a qualifying 75% subsidiary of a company owned by a consortium of which X is a member,
and X is not a qualifying 75% subsidiary of another company.
5
A company (“Y”) is a principal company of C if—
a
C is owned by a consortium of which X is a member, or
b
C is a qualifying 75% subsidiary of a company owned by a consortium of which X is a member,
and X is a qualifying 75% subsidiary of Y but Y is not a qualifying 75% subsidiary of another company.
6
If Y is a qualifying 75% subsidiary of another company (“Z”), Z is a principal company of C unless Z is a qualifying 75% subsidiary of another company, and so on.
7
A company that is a principal company of C by virtue of any of subsections (4) to (6) is a consortium principal company of C.
Pt. 2 modified (24.2.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 10 para. 12 (with Sch. 10 para. 17(1)); S.I. 2003/120, art. 2, Sch. (with arts. 34) (as amended (20.2.2003) by S.I. 2003/333, art. 14)