http://www.legislation.gov.uk/ukpga/2001/2/section/577/2008-07-21Capital Allowances Act 2001An Act to restate, with minor changes, certain enactments relating to capital allowances.2001-04-05texttext/xmlenStatute Law Database2026-04-15Expert 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 12Chapter 65771In this Act— “dual resident investing company” has the same meaning as in section 404 of ICTA (limitation of group relief in relation to certain dual resident companies); “market value”, in relation to any asset, means the price the asset would fetch in the open market; “the normal time limit for amending a tax return”, in relation to a tax year, means the first anniversary of the 31st January following the tax year; “notice” means a notice in writing; “property business” means a UK property business, a Schedule A business or an overseas property business; “ tax return ” has the meaning given by section 3(3); . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2Any reference to the setting up, commencement or permanent discontinuance of—aa trade,ba property business,ca profession, orda vocation,includes, except where the contrary is expressly provided, the occurring of an event which, under any provision of the Income Tax Acts or Corporation Tax Acts, is to be treated as equivalent to the setting up, commencement or permanent discontinuance of a trade, property business, profession or vocation.3Any reference in this Act to an allowance made includes an allowance which would be made but for an insufficiency of profits, or other income, against which to make it.4For the purposes of this Act a person obtains a tax advantage if he—aobtains an allowance or a greater allowance, orbavoids a charge or secures the reduction of a charge.5In Schedule 1—aPart 1 gives the meaning of abbreviated references in this Act to Acts about tax, andbPart 2 lists where expressions used in this Act are defined or otherwise explained. 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 Words in s. 577(1) inserted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 573 (with Sch. 2)Words in s. 577(1) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 412(a), Sch. 3 Pt. 1 (with Sch. 2)Words in s. 577(1) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 412(b), Sch. 3 Pt. 1 (with Sch. 2)