Part III Income Tax, Corporation Tax and Capital Gains Tax

Chapter II Other provisions

Capital allowances

73 Repeal of notification requirements.

1

In section 118 of the M1Finance Act 1994 (notification requirements)—

a

subsections (1) to (5) and (7) to (9) shall cease to have effect; and

b

in subsection (6), for “the provisions mentioned in subsection (2) above" there shall be substituted—

a

section 25(1) of the Capital Allowances Act 1990 (meaning of qualifying expenditure for the purposes of writing-down allowances for expenditure on machinery or plant); and

b

section 44(4) of the Finance Act 1971 (provision corresponding to section 25(1) applicable to earlier chargeable periods),

2

This section has effect for chargeable periods as respects which the period specified in subsection (3A) of that section ends on or after 1st April 2000.