PART 1Income tax, corporation tax and capital gains tax
Capital allowances: super-deductions etc
11Reduced super-deduction
(1)
Subsection (2) applies where a person incurs super-deduction expenditure in a chargeable period (“the relevant period”) that ends on or after 1 April 2023.
(2)
Where this subsection applies, section 9(1)(b) applies as if for “130%” there were substituted the relevant percentage.
(3)
Subsection (4) applies where a person becomes entitled in a chargeable period (“the relevant period”) that ends on or after 1 April 2023 to a super-deduction as a result of section 236(2) in respect of an additional VAT liability that is regarded (as a result of that section) as super-deduction expenditure.
(4)
Where this subsection applies, section 9(1)(b) applies as if for “130%” there were substituted—
(a)
where the person becomes entitled to the super-deduction before 1 April 2023, the relevant percentage, or
(b)
otherwise, “100%”.
(5)
For the purposes of subsections (2) and (4)(a), the relevant percentage is X% where X is determined by—
(a)
dividing the number of days in the relevant period before 1 April 2023 by the total number of days in that period,
(b)
multiplying that amount by 30, and
(c)
adding 100 to the result.