SCHEDULES
SCHEDULE 26Special rate expenditure and the special rate pool
Part 1Amendments of CAA 2001
Consequential amendments
3
In section 54(5)
(the different kinds of pools), for “section 101 (long life assets);” substitute “
section 104C (special rate expenditure);
”
.
4
In section 56(2) (amount of allowances and charges), for paragraph (a) substitute—
a
section 104D (special rate expenditure: 10%), and
5
In section 65(1) (final chargeable period), for paragraph (b) substitute—
b
a special rate pool,
6
In section 66 (list of provisions about disposal values), for the entry relating to section 104 substitute—
section 104E
special rate expenditure: avoidance cases
7
In column 1 of the table in section 84 (cases in which short-life asset treatment is ruled out), for item 4 substitute—
4
The expenditure is special rate expenditure (see Chapter 10A).
8
Omit section 92 (application of Chapter 10 to part of expenditure).
9
For section 101 (long-life asset pool) substitute—
101Allocation of long-life asset expenditure to pool
Chapter 10A (special rate expenditure and the special rate pool) provides for long-life asset expenditure to be allocated to the special rate pool.
10
For section 102 (6% writing-down allowance in respect of long-life asset expenditure) substitute—
102Writing-down allowance in respect of long-life asset expenditure
Chapter 10A (special rate expenditure and the special rate pool) provides for the writing-down allowance to which a person is entitled in respect of long-life asset expenditure.
11
Omit section 104 (disposal value of long-life assets).
12
In section 266(7) (certain provisions disapplied where election made under section 266)—
a
for “104” substitute “
104E
”
, and
b
for “of long-life assets” substitute “
in connection with special rate expenditure
”
.
13
In Part 2 of Schedule 1 (index of defined expressions), insert at the appropriate place—
special rate expenditure (in Part 2)
section 104A