PART 1

Income tax, corporation tax and capital gains tax

Capital allowances: super-deductions etc

Further provision about super-deductions etc
10
1
Sections 11 to 14 contain further provision in connection with super-deductions and SR allowances.
2
Section 11 contains provision that modifies the percentage that as a result of section 9(1)(b) would otherwise apply to—
a
super-deduction expenditure incurred in a chargeable period that ends on or after 1 April 2023;
b
an additional VAT liability accruing in a chargeable period that ends on or after 1 April 2023 that is regarded as super-deduction expenditure as a result of section 236(2) of CAA 2001 (additional VAT liability generates first-year allowance).
3
Section 12 contains provision about the disposal of plant or machinery in respect of which a super-deduction was made and section 13 contains similar provision in relation to plant or machinery in respect of which an SR allowance was made.
4
Section 14 contains provision about counteracting tax advantages in connection with super-deductions and SR allowances (but see also Chapter 17 of Part 2 of CAA 2001 which contains other provisions about anti-avoidance).
5
Sections 11, 12 and 13 have effect as if they were contained in Chapter 5 of Part 2 of CAA 2001 (allowances and charges).
6
In this section, and in sections 11 to 14—
- “super-deduction expenditure” and “super-deduction” are to be construed in accordance with section 9(2);
- “SR allowance expenditure” and “SR allowance” are to be construed in accordance with section 9(3);
- “additional VAT liability” has the meaning given by section 547(1) of CAA 2001.