111 Excess allowances: standard recovery mechanism
Capital Allowances Act 2001 (2001 c 2) | Legislation

Recovery of excess allowances

111  Excess allowances: standard recovery mechanism

(1)     If—

(a)     expenditure incurred by a person in providing plant or machinery has qualified for a first-year allowance or a normal writing-down allowance, and

(b)     at any time in the designated period, the plant or machinery is used for overseas leasing which is not protected leasing,

the following provisions of this section have effect in relation to the person who is the owner of the plant or machinery when it is first so used.

(2)     For the chargeable period in which the plant or machinery

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