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