Modification of section 255 of the Capital Allowances Act 200115
1
Where any part of the business of a company is tax exempt business, section 255 of the Capital Allowances Act 2001 (apportionment of allowances and charges)16 is modified as follows.
2
In subsection (1), for “and PHI business” substitute “, PHI business, tax exempt life assurance business and tax exempt other business”.