[270IE Co-ownership schemes: calculation of allowance after an election]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[270IE  Co-ownership schemes: calculation of allowance after an election]

[(1)     This section applies if—

(a)     an election under section 270ID, or

(b)     an election under section 262AB (plant and machinery allowances: co-ownership schemes) made on or after the relevant date,

has effect for an accounting period of a co-ownership authorised contractual scheme (“the relevant period”).

(2)     The operator of the scheme is to calculate the allowances that would be available to the scheme under this Part in relation to the relevant period on the basis of the assumptions in subsection (3).

(3)     The assumptions are—

(a)     the scheme is a person;

(b)     the relevant period is a chargeable period for the purposes of this Act;

(c)

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