C1Part 2 Plant and machinery allowances

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Modifications etc. (not altering text)

Chapter 11 Overseas leasing

Minor definitions

126 Minor definitions

1

In this Chapter “normal writing-down allowance” means a writing-down allowance of an amount determined without regard to sections 102 and 109 (reduced rates).

2

In this Chapter any reference, in relation to any person, to expenditure having qualified for a normal writing-down allowance is to—

a

the expenditure, or part of it, having fallen to be included in that person’s available qualifying expenditure for any chargeable period, and

b

that available qualifying expenditure being expenditure which is not subject to section 102 or 109.

3

Any reference in this Chapter to a person’s expenditure having qualified for a first-year allowance is to such an allowance having fallen to be made in respect of the whole or any part of the expenditure.