http://www.legislation.gov.uk/ukpga/2001/2/section/267/2008-07-21Capital Allowances Act 2001An Act to restate, with minor changes, certain enactments relating to capital allowances.2001-04-05texttext/xmlenStatute Law Database2026-05-01Expert Participation2008-07-21 Capital Allowances Act 2001s. 774E(5)(b)Finance Act 2008Sch. 20 para. 12(11)Capital Allowances Act 2001s. 29(1A)The Fire and Rescue Services (Northern Ireland) Order 2006Sch. 3 para. 24(b)art. 1(3)art. 2 Part 2Chapter 202671If an election is made under section 266, the following provisions have effect.2For the purposes of making allowances and charges under this Part, relevant plant or machinery is treated as sold by the predecessor to the successor—awhen the succession takes place, andbat a price which gives rise to neither a balancing allowance nor a balancing charge.3“Relevant plant or machinery” means any plant or machinery which—aimmediately before the succession, was owned by the predecessor, and was either in use or provided and available for use for the purposes of the qualifying activity, andbimmediately after the succession, is owned by the successor, and is either in use or provided and available for use for the purposes of the qualifying activity.4Allowances and charges are to be made under this Part to or on the successor as if everything done to or by the predecessor had been done to or by the successor.5All such assessments and adjustments of assessments are to be made as are necessary to give effect to the election.6This section is subject to section 267A.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. 3 4) (as amended (20.2.2003) by S.I. 2003/333, art. 14) S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7 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 (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. 9 paras. 10, 22 (with s. 38(2) ); S.I. 2004/2575 , art. 2(1) , Sch. 1 S. 267(6) inserted (with effect in accordance with s. 85(5) of the amending Act) by Finance Act 2006 (c. 25), s. 85(3)