SCHEDULES

SCHEDULE 24Annual investment allowance

Part 1Amendments of CAA 2001

5

In section 58 (allocation of qualifying expenditure to pools), after subsection (4) insert—

4A

If an annual investment allowance is made to a person for a chargeable period—

a

the AIA qualifying expenditure in respect of which the allowance is made must be allocated to the appropriate pool (or pools) in that chargeable period, and

b

the available qualifying expenditure in a pool to which the expenditure (or some of it) is allocated is reduced by the amount of that expenditure.