217 No [F1annual investment allowance or] first-year allowance for B’s expenditureU.K.
(1)If this section applies as a result of section 214, 215 or 216, [F2no annual investment allowance or first-year allowance is] to be made in respect of B’s expenditure under the relevant transaction.
(2)Any [F3annual investment allowance or ] first-year allowance which is prohibited by subsection (1), but which has already been made, is to be withdrawn.
[F4(3)This section does not apply if plant or machinery is the subject of a sale and finance leaseback (as defined in section 221).]
Textual Amendments
F1Words in s. 217 heading inserted (with effect in accordance with Sch. 24 para. 23 of the amending Act) by Finance Act 2008 (c. 9), Sch. 24 para. 8(4)
F2Words in s. 217(1) substituted (with effect in accordance with Sch. 24 para. 23 of the amending Act) by Finance Act 2008 (c. 9), Sch. 24 para. 8(2)
F3Words in s. 217(2) inserted (with effect in accordance with Sch. 24 para. 23 of the amending Act) by Finance Act 2008 (c. 9), Sch. 24 para. 8(3)
F4S. 217(3) substituted (with effect in accordance with Sch. 20 para. 6(19) of the amending Act) by Finance Act 2008 (c. 9), Sch. 20 para. 6(8)