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Capital Allowances Act 2001
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538 Plant and machineryU.K.
This section has no associated Explanatory Notes
(1)This section is about contribution allowances under Part 2 and applies if—
(a)the general conditions for contribution allowances are met, F1...
[F2(aa)C's contribution is to expenditure on the provision of plant or machinery, and]
(b)C’s contribution is made for the purposes of a trade or relevant activity carried on, or to be carried on, by C.
(2)C is to be treated for the purposes of allowances under Part 2 as if—
(a)the contribution were expenditure incurred by C on the provision, for the purposes of C’s trade or relevant activity, of the [F3plant or machinery],
(b)C owned the [F4plant or machinery] as a result of incurring that expenditure at any time when R owns it or is treated under Part 2 as owning it, and
(c)the [F5plant or machinery] were at all material times [F6plant or machinery] in use for the purposes of C’s trade or relevant activity.
(3)Expenditure treated as incurred under subsection (2)(a), if allocated to any pool, must be allocated to a single asset pool.
(4)Subsections (5) and (6) apply for the purposes of contribution allowances under Part 2 if the whole or a part of the trade or relevant activity for the purposes of which C’s contribution was made is transferred.
(5)If the whole of the trade or relevant activity 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.
(6)If a part of the trade or relevant activity 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
F1Word in s. 538(1)(a) omitted (with effect in accordance with s. 73(4)-(6) of the amending Act) by virtue of Finance Act 2013 (c. 29), s. 73(2)
F2S. 538(1)(aa) inserted (with effect in accordance with s. 73(4)-(6) of the amending Act) by Finance Act 2013 (c. 29), s. 73(2)
F3Words in s. 538(2)(a) substituted (with effect in accordance with s. 73(4)-(6) of the amending Act) by Finance Act 2013 (c. 29), s. 73(3)(a)
F4Words in s. 538(2)(b) substituted (with effect in accordance with s. 73(4)-(6) of the amending Act) by Finance Act 2013 (c. 29), s. 73(3)(b)
F5Words in s. 538(2)(c) substituted (with effect in accordance with s. 73(4)-(6) of the amending Act) by Finance Act 2013 (c. 29), s. 73(3)(c)(i)
F6Words in s. 538(2)(c) substituted (with effect in accordance with s. 73(4)-(6) of the amending Act) by Finance Act 2013 (c. 29), s. 73(3)(c)(ii)
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