36 Fixed rate deduction for expenditure on vehicles etc
Finance Act 2018 (2018 c 3) | Legislation

36  Fixed rate deduction for expenditure on vehicles etc

(1)     Section 94E of ITTOIA 2005 (excluded vehicles) is amended in accordance with subsections (2) and (3).

(2)     In subsection (3)(b)—

(a)     for “the trade” substitute “any relevant trade or business”;

(b)     for “section 25A” substitute “sections 25A and 271D”.

(3)     After subsection (3) insert—

“(4)     In this section “any relevant trade or business” means any trade or property business carried on by the person carrying on the trade mentioned in subsection (1).”

(4)     In section 272 of that Act (application of trading income rules: GAAP), in subsection (2), in the table, at the appropriate place insert—

“In Chapter 5A (deductions allowable
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