TTM17436 - Schedule 22 Finance Act 2000: Capital Allowances

During: Plant and machinery: Giving effect to balancing charge

FA00/SCH22/PARA79

(1) A balancing charge under this Part of this Schedule-

(a) is treated as arising in connection with a trade (other than its tonnage tax trade) carried on by the company, and

(b) is made in taxing that trade.

(2) Subject to paragraph 80 (deferment of balancing charge in case of reinvestment), the charge must be given effect in the accounting period in which it arises.

References