Modification of section 255 of the Capital Allowances Act 2001
This section has no associated Explanatory Memorandum
15.—(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)(1) 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”.
(1)
2002 c. 2. Section 255 was relevantly amended by paragraph 69 of Schedule 7 to the Finance Act 2007.