SCHEDULE 2Annual investment allowance: transitional provisions etc
PART 2Amendments of FA 2013
7
(1)
Schedule 1 to FA 2013 (annual investment allowance) is amended as follows.
(2)
In paragraph 1 (chargeable periods which straddle 1 January 2013)—
(a)
in sub-paragraph (1), after “that date” insert “
but not later than the specified date
”
, and
(b)
“(1A)
The specified date” means—
(a)
for the purposes of corporation tax, 31 March 2014, and
(b)
for the purposes of income tax, 5 April 2014.”
(3)
Omit paragraph 4 (chargeable periods which straddle 1 January 2015).
(4)
In paragraph 5 (operation of annual investment allowance where restrictions apply)—
(a)
in sub-paragraph (1)—
(i)
for “to 4” substitute “
to 3
”
, and
(ii)
omit “or 4(1)”, and
(b)
in sub-paragraph (2), omit “or 4(1)”,
(c)
in sub-paragraph (3)(b), for “, 2014-15, 2015-16 or 2016-17” substitute “
or 2014-15
”
.