95 Tax provisions
Water Act 1989 (1989 c 15) | Legislation

95  Tax provisions

(1)     The Secretary of State may, for the purposes of section 2 of the Capital Allowances Act 1968 (writing-down allowance), by order make provision specifying—

(a)     the amount to be taken for the purposes of subsection (3) of that section as the residue on the transfer date of any expenditure in relation to which any property vested in a successor company in accordance with a scheme under Schedule 2 to this Act is a relevant interest for the purposes of that section; and

(b)     the part of the period mentioned in subsection (3) of that section which is to be treated, in relation to any such property, as unexpired on that date.

(2)     For the purposes of Chapter I of Part III of the Finance Act 1971 (capital allowances in respect of machinery and plant) property which is vested in a successor company in accordance with a scheme under Schedule 2 to this Act shall be treated as if—

(a)     it had been acquired by that company on the transfer date for the purposes for which it is used by that company on and after that date; and

(b)     capital expenditure of such amount as may be specified

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