Part 1 Transitional Provisions
Finance Act 2014 (2014 c 26) | Legislation

SCHEDULE 2 Annual Investment Allowance: Transitional Provisions etc

Section 10

Part 1 Transitional Provisions

Chargeable periods which straddle start date

1

(1)     This paragraph applies in relation to a chargeable period which begins before the start date and ends on or after that date (“the first straddling periodâ€).

For “the start dateâ€, see section 10(3).

(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 1 January 2013,

(b)     so much of the first straddling period as falls on or after that date but before the start date, and

(c)     so much of the first straddling period as falls on or after the start date,

were each treated as separate chargeable periods.

(3)     But this is subject to paragraphs 2 and 3.

First straddling period beginning before 1 January 2013

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