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Introductory Text
Part I Industrial Buildings and Structures
Chapter I Initial Allowances
1.Buildings and structures in enterprise zones
2.Transitional relief for regional projects
Chapter II Writing-down Allowances, Balancing Allowances and Balancing Charges
3.Writing-down allowances
4.Balancing allowances and balancing charges
5.Restriction of balancing allowances on sale of industrial buildings or structures
6.Buildings and structures (including hotels) in enterprise zones
7.Other hotels
Chapter III Provisions Supplementary to Chapters I and II
8.Writing off of expenditure and meaning of “residue of expenditure”
9.Manner of making allowances and charges
10.Purchases of buildings and structures
11.Long leases
12.Expenditure on repair of buildings
13.Expenditure on sites for machinery and plant
14.Sports pavilions
15.Temporary disuse of industrial buildings or structures
16.Requisitioned land, holding over of leased land and other special cases
17.Mining structures etc: balancing allowances carried back to earlier chargeable periods
18.Definition of “industrial building or structure”
19.Meaning of “qualifying hotel”
20.Meaning of “the relevant interest”
21.Other interpretation of Part I
Part II Machinery and Plant
Chapter I Allowances and Charges: General Provisions
22.First-year allowances: transitional relief for regional projects
23.Information relating to first-year allowances
24.Writing-down allowances and balancing adjustments
25.Qualifying expenditure
26.The disposal value
27.Professions, employments, vocations etc
28.Investment companies and life assurance companies
29.Furnished holiday lettings
Chapter II Ships
30.First-year allowances
31.Writing-down allowances
32.Ships not used in the actual trade
33.Exclusion of section 31
Chapter III Expensive Motor Cars
34.Writing-down allowances etc
35.Contributions to expenditure, and hiring of cars
36.Definition of “motor car”, etc
Chapter IV Short-Life Assets
37.Election for certain machinery or plant to be treated as short-life assets
38.Assets which cannot be treated as short-life assets
Chapter V Leased Assets and Inexpensive Cars
39.Meaning of “qualifying purpose”
40.Meaning of “short-term leasing” and “the requisite period”
41.Writing-down allowances etc. for leased assets and inexpensive cars
42.Assets leased outside the United Kingdom
43.Joint lessees: new expenditure
44.Further provisions relating to joint lessees in cases involving new expenditure
45.Joint lessees: old expenditure
46.Recovery of excess relief: new expenditure
47.Recovery of excess relief: old expenditure
48.Information relating to allowances made in respect of new expenditure
49.Information relating to allowances made in respect of old expenditure
50.Interpretation of Chapter V
Chapter VI Fixtures
51.Application and interpretation of Chapter VI
52.Expenditure incurred by holder of interest in land
53.Expenditure incurred by equipment lessor
54.Expenditure included in consideration for acquisition of existing interest in land
55.Expenditure incurred by incoming lessee: transfer of allowances
56.Expenditure incurred by incoming lessee: lessor not entitled to allowances
57.Fixtures treated as ceasing to belong to particular persons
58.Equipment lessors: special provisions
59.Disposal value of fixtures in certain cases
Chapter VII Miscellaneous Expenditure
60.Machinery and plant on hire-purchase etc
61.Machinery and plant on lease
62.Treatment of demolition costs
63.Mineral extraction
64.Transfers of interests in oil fields
65.Partnership using property of a partner
66.Building alterations connected with installation of machinery or plant
67.Expenditure on thermal insulation
68.Exclusion of certain expenditure relating to films, tapes and discs
69.Expenditure on fire safety
70.Expenditure on safety at sports grounds
71.Security
72.Security: supplementary
Chapter VIII Supplementary Provisions
73.Manner of making allowances and charges
74.Allowances not available: expenses of Members of Parliament
75.Further restrictions on allowances
76.Extension of section 75
77.Successions to trades: connected persons
78.Succession to trades where no election made under section 77
79.Effect of use partly for trade etc. and partly for other purposes
80.Effect of subsidies towards wear and tear
81.Effect of use after user not attracting capital allowances, or after receipt by way of gift
82.Capital expenditure to which this Part does not apply
83.Other interpretative provisions
Part III Dwelling-houses Let on Assured Tenancies
84.Application of Part III
85.Writing-down allowances
86.Qualifying dwelling-houses
87.Balancing allowances and charges and withdrawal of initial allowances in certain cases
88.Dwelling-houses not continuously qualifying dwelling-houses
89.Supplementary provisions where dwelling-house ceases to be a qualifying dwelling-house
90.Writing off of expenditure and meaning of “residue of expenditure”
91.Buildings bought unused
92.Manner of making allowances and charges
93.Repairs, and double allowances
94.Holding over by lessees, etc
95.The relevant interest
96.The appropriate capital expenditure
97.Interpretation
Part IV Mineral Extraction
Chapter I Allowances and Charges
98.Writing-down and balancing allowances
99.Disposal receipts
100.Balancing charges: excess of allowances etc. over expenditure
101.Occasions of balancing allowances
102.Treatment of qualifying expenditure on mineral exploration and access
103.Demolition costs
104.Manner of making allowances and charges
Chapter II Qualifying Expenditure
105.General provisions
106.Pre-trading expenditure on machinery or plant which is sold etc
107.Pre-trading exploration expenditure
108.Contributions by mining concerns to public services etc. outside the United Kingdom
109.Restoration expenditure
Chapter III Limitations on Qualifying Expenditure etc.
110.Expenditure on the acquisition of land
111.Reduction of qualifying expenditure for premium relief
112.Restriction of disposal receipts
113.Assets formerly owned by traders
114.Assets previously acquired
115.Expenditure partly attributable to mineral exploration and access
116.Oil licences etc
117.Transfer of mineral assets within a group
118.Assets formerly owned by non-traders
Chapter IV Supplementary Provisions
119.Transitional provisions relating to old expenditure
120.Time when expenditure is incurred
121.Interpretation of Part IV
Part V Agricultural Buildings etc.
Chapter I Agriculture
122.Allowances for expenditure incurred before 1st April 1986
123.Allowances for expenditure incurred after 31st March 1986
124.Expenditure qualifying for allowances
125.Meaning of “major interest” and “the relevant interest”
126.Transfers of relevant interest
127.Buildings etc. bought unused
128.Balancing allowances and charges
129.Balancing events
130.Restriction of balancing allowances on sale of buildings
Chapter II Forestry
131.Forestry: transitional provisions
Chapter III Supplemental
132.Manner of making allowances and charges
133.Interpretation of Part V
Part VI Dredging
134.Allowances for expenditure on dredging
135.Interpretation of Part VI
Part VII Scientific Research
136.Allowances for expenditure on scientific research not of a capital nature, and on payments to research associations, universities etc
137.Allowances for capital expenditure on scientific research
138.Assets ceasing to belong to traders
139.Supplemental
Part VIII Supplementary Provisions
140.Income tax allowances and charges in taxing a trade etc
141.Other income tax allowances
142.Restriction of set-off of allowances against general income
143.Tax agreements
144.Corporation tax allowances and charges in taxing a trade
145.Other corporation tax allowances
146.Writing-down allowances under Parts V and VI
147.Exclusion of double allowances
148.Double allowances: transitional provisions
149.Companies not resident in the United Kingdom
150.Apportionment of consideration, and exchanges and surrenders of leasehold interests
151.Procedure on apportionments
152.Succession to trades etc
153.Subsidies, contributions etc
154.Allowances in respect of contributions to capital expenditure
155.Further provisions relating to capital contributions
156.Meaning of “sale, insurance, salvage or compensation moneys”
157.Sales between connected persons etc
158.Further provisions relating to sales without change of control or between connected persons
159.Capital expenditure, capital sums and time when capital expenditure is incurred
160.Meaning of “basis period”
161.Other interpretative provisions
162.Application to Scotland
163.Continuity and construction of enactments etc
164.Commencement, amendments and repeals
165.Short title
SCHEDULES
SCHEDULE 1
Consequential amendments
Taxes Management Act 1970 c. 10
1.(1) In sections 57(3)(b) and 58(3)(b) of the Taxes Management...
Social Security Act 1975 c. 14
Social Security (Northern Ireland) Act 1975 c. 15
2.In paragraphs 1 and 2 of both Schedule 2 to...
Capital Gains Tax Act 1979 c. 14
3.(1) The Capital Gains Tax Act 1979 shall have effect...
Finance Act 1982 c. 39
4.In section 137 of the Finance Act 1982—
London Regional Transport Act 1984 c. 32
5.In paragraph 5 of Schedule 5 to the London Regional...
Films Act 1985 c. 21
6.In section 6(1) and in paragraphs 2 and 3 of...
Trustee Savings Bank Act 1985 c. 58
7.In paragraph 1 of Schedule 2 to the Trustee Savings...
Income and Corporation Taxes Act 1988 c. 1
8.(1) The Income and Corporation Taxes Act 1988 shall be...
Finance Act 1988 c. 39
9.(1) In section 62(2)(b) of the Finance Act 1988 for...
Finance Act 1989 c. 26
10.In section 121(2) of the Finance Act 1989 for the...
Electricity Act 1989 c. 29
11.In paragraph 5 of Schedule 11 to the Electricity Act...
SCHEDULE 2
Repeals
CAPITAL ALLOWANCES ACT 1990
TABLE OF DERIVATIONS