TTM17751 - Schedule 22 Finance Act 2000: Part XIII partnerships - Para 135 adjustments for capital allowance purposes
FA00/SCH22/PARA135
The regulations may provide that where a partner leaves tonnage tax, such adjustments shall be made for capital allowance purposes, in relation to that partner and all or any of the other partners, with respect to-
(a) the amount of qualifying expenditure under Part 2 of the Capital Allowances Act 2001 (plant and machinery allowances), and
(b) the amount of the residue of qualifying expenditure under Part 3 of that Act (industrial buildings allowances),
as may be specified in the regulations.
History
Amended by Schedule 2 CAA 2001. Up to 31st March 2001 the paragraph read:
The regulations may provide that where a partner leaves tonnage tax, such adjustments shall be made for capital allowance purposes, in relation to that partner and all or any of the other partners, with respect to-
(a) the amount of qualifying expenditure under Part II of the Capital Allowances Act 1990 (plant and machinery), and
(b) the amount of unrelieved qualifying expenditure under Part I of that Act (industrial buildings),
as may be specified in the regulations.
References
| SI00/2303/REG8 CA adjustments where partner leaves tax | TTM18008 |
| Capital allowances on exit from Tonnage Tax | TTM13410 |