TTM17471 - Schedule 22 Finance Act 2000: Part IX the ring fence - capital allowances - Para 86 exit - industrial buildings
If a company leaves tonnage tax the amount of unrelieved qualifying expenditure under Part 3 of the Capital Allowances Act 2001 (industrial buildings allowances) is calculated as if-
(a) the company had never been subject to tonnage tax, and
(b) all such allowances and charges under that Part had been made as could have been made.
Amended by Schedule 2 CAA 2001. Up to 31st March 2001 the paragraph read:
If a company leaves tonnage tax the amount of unrelieved qualifying expenditure under Part I of the Capital Allowances Act 1990 (industrial buildings) is calculated as if-
|Company with industrial building leaves Tonnage Tax||TTM09430|