412 Transfers of mineral assets within group: limit is initial group expenditure
Capital Allowances Act 2001 (2001 c 2) | Legislation

412  Transfers of mineral assets within group: limit is initial group expenditure

(1)     Subject to section 413, this section applies if—

(a)     a company (“the buyer”) incurs capital expenditure on acquiring a mineral asset (“asset X”) from another company (“the seller”), and

(b)     the seller is a group company in relation to the buyer at the time of the acquisition.

(2)     The buyer's expenditure on acquiring asset X is to be left out of account for the purposes of this Part to the extent that it exceeds—

(a)     the capital expenditure incurred by

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

The Money Laundering Reporting Officer (MLRO)

The Money Laundering Reporting Officer (MLRO)OverviewThe requirements to have robust systems and controls in a regulated firm to prevent money laundering originate from:•the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (as

LEXISNEXIS

Common financial covenants

Common financial covenantsThis Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan

LEXISNEXIS

CPR Part 8 claims (alternative procedure for claims)

CPR Part 8 claims (alternative procedure for claims)This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further

LEXISNEXIS

Forming enforceable contracts—consideration

Forming enforceable contracts—considerationThis Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in