Modifications etc. (not altering text)
C1 S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7
(1)Subsections (2) and (3) apply for the purposes of contribution allowances under [F2Part 5] if—
(a)C’s contribution was made for the purposes of C’s trade F1..., and
(b)the whole or a part of the trade F1... is subsequently transferred.
(2)If the whole of the trade F1... is transferred, writing-down allowances for chargeable periods ending after the date of the transfer are to be made to the transferee instead of to the transferor.
(3)If a part of the trade F1... is transferred, writing-down allowances for chargeable periods ending after the date of the transfer are to be made to the transferee instead of to the transferor to the extent that they are properly referable to the part transferred.
Textual Amendments
F1Words in s. 542 repealed (31.1.2013) by Statute Law (Repeals) Act 2013 (c. 2), s. 3(2), Sch. 1 Pt. 10 Group 1
F2Words in s. 542(1) substituted (with effect in accordance with Sch. 27 para. 30(1) of the amending Act) by Finance Act 2008 (c. 9), Sch. 27 para. 11