SCHEDULE 1 Annual Investment Allowance: Periods Straddling 1 January 2013 or 1 January 2015
Finance Act 2013 (2013 c 29) | Legislation

SCHEDULE 1 Annual Investment Allowance: Periods Straddling 1 January 2013 or 1 January 2015

Section 7

Chargeable periods which straddle 1 January 2013

1

(1)     This paragraph applies in relation to a chargeable period which begins before 1 January 2013 and ends on or after that date [but not later than the specified date] (“the first straddling periodâ€).

[(1A)     The specified date†means—

(a)     for the purposes of corporation tax, 31 March 2014, and

(b)     for the purposes of income tax, 5 April 2014.]

(2)     The maximum allowance under section 51A of CAA 2001 for the first straddling period is the sum of each maximum allowance that would be found if—

(a)     so much (if any) of the first straddling period as falls before the relevant date,

(b)     so much of the first straddling period as falls on or after the relevant date but before 1 January 2013, and

(c)     so much of the first straddling period as falls on or after 1 January 2013,

were each treated as separate chargeable periods.

(3)

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