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[1]
Royal ArmsCapital Allowances Act 1990 (c. 1)

1990 c. 1
 

© Crown Copyright 1990

Acts of Parliament printed from this website are printed under the superintendence and authority of the Controller of HMSO being the Queen's Printer of Acts of Parliament.

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The text of this Internet version of the Act is published by the Queen's Printer of Acts of Parliament and has been prepared to reflect the text as it received Royal Assent. A print version is also available and is published by The Stationery Office Limited as the Capital Allowances Act 1990 (c. 1), ISBN 0105401900.

To ensure fast access over slow connections, large documents have been segmented into "chunks". Where you see a "continue" button at the bottom of the page of text, this indicates that there is another chunk of text available.

 Capital Allowances Act 1990 (c. 1)
 

1990 Chapter c. 1

 


ARRANGEMENT OF SECTIONS

Part I
Industrial Buildings and Structures
Chapter I
Initial Allowances
1 Buildings and structures in enterprise zones.
2 Transitional relief for regional projects.
 
Chapter II
Writing-down Allowances, Balancing Allowancesand Balancing Charges
3 Writing-down allowances.
4 Balancing allowances and balancing charges.
5 Restriction of balancing allowances on sale of industrial buildings or structures.
6 Buildings and structures (including hotels) in enterprise zones.
7 Other hotels.
 
Chapter III
Provisions Supplementary to Chapters I and II
8 Writing off of expenditure and meaning of "residue of expenditure".
9 Manner of making allowances and charges.
10 Purchases of buildings and structures.
11 Long leases.
12 Expenditure on repair of buildings.
13 Expenditure on sites for machinery and plant.
14 Sports pavilions.
15 Temporary disuse of industrial buildings or structures.
16 Requisitioned land, holding over of leased land and other special cases.
17 Mining structures etc: balancing allowances carried back to earlier chargeable periods.
18 Definition of "industrial building or structure".
19 Meaning of "qualifying hotel".
20 Meaning of "the relevant interest".
21 Other interpretation of Part I.
 
Part II
Machinery and Plant
Chapter I
Allowances and Charges: General Provisions
22 First-year allowances: transitional relief for regional projects.
23 Information relating to first-year allowances.
24 Writing-down allowances and balancing adjustments.
25 Qualifying expenditure.
26 The disposal value.
27 Professions, employments, vocations etc.
28 Investment companies and life assurance companies.
29 Furnished holiday lettings.
 
Chapter II
Ships
30 First-year allowances.
31 Writing-down allowances.
32 Ships not used in the actual trade.
33 Exclusion of section 31.
 
Chapter III
Expensive Motor Cars
34 Writing-down allowances etc.
35 Contributions to expenditure, and hiring of cars.
36 Definition of "motor car", etc.
 
Chapter IV
Short-Life Assets
37 Election for certain machinery or plant to be treated as short-life assets.
38 Assets which cannot be treated as short-life assets.
 
Chapter V
Leased Assets and Inexpensive Cars
39 Meaning of "qualifying purpose".
40 Meaning of "short-term leasing" and "the requisite period".
41 Writing-down allowances etc. for leased assets and inexpensive cars.
42 Assets leased outside the United Kingdom.
43 Joint lessees: new expenditure.
44 Further provisions relating to joint lessees in cases involving new expenditure.
45 Joint lessees: old expenditure.
46 Recovery of excess relief: new expenditure.
47 Recovery of excess relief: old expenditure.
48 Information relating to allowances made in respect of new expenditure.
49 Information relating to allowances made in respect of old expenditure.
50 Interpretation of Chapter V.
 
Chapter VI
Fixtures
51 Application and interpretation of Chapter VI.
52 Expenditure incurred by holder of interest in land.
53 Expenditure incurred by equipment lessor.
54 Expenditure included in consideration for acquisition of existing interest in land.
55 Expenditure incurred by incoming lessee: transfer of allowances.
56 Expenditure incurred by incoming lessee: lessor not entitled to allowances.
57 Fixtures treated as ceasing to belong to particular persons.
58 Equipment lessors: special provisions.
59 Disposal value of fixtures in certain cases.
 
Chapter VII
Miscellaneous Expenditure
60 Machinery and plant on hire-purchase etc.
61 Machinery and plant on lease.
62 Treatment of demolition costs.
63 Mineral extraction.
64 Transfers of interests in oil fields.
65 Partnership using property of a partner.
66 Building alterations connected with installation of machinery or plant.
67 Expenditure on thermal insulation.
68 Exclusion of certain expenditure relating to films, tapes and discs.
69 Expenditure on fire safety.
70 Expenditure on safety at sports grounds.
71 Security.
72 Security: supplementary.
 
Chapter VIII
Supplementary Provisions
73 Manner of making allowances and charges.
74 Allowances not available: expenses of Members of Parliament.
75 Further restrictions on allowances.
76 Extension of section 75.
77 Successions to trades: connected persons.
78 Succession to trades where no election made under section 77.
79 Effect of use partly for trade etc. and partly for other purposes.
80 Effect of subsidies towards wear and tear.
81 Effect of use after user not attracting capital allowances, or after receipt by way of gift.
82 Capital expenditure to which this Part does not apply.
83 Other interpretative provisions.
 
Part III
Dwelling-houses Let on Assured Tenancies
84 Application of Part III.
85 Writing-down allowances.
86 Qualifying dwelling-houses.
87 Balancing allowances and charges and withdrawal of initial allowances in certain cases.
88 Dwelling-houses not continuously qualifying dwelling-houses.
89 Supplementary provisions where dwelling-house ceases to be a qualifying dwelling-house.
90 Writing off of expenditure and meaning of "residue of expenditure".
91 Buildings bought unused.
92 Manner of making allowances and charges.
93 Repairs, and double allowances.
94 Holding over by lessees, etc.
95 The relevant interest.
96 The appropriate capital expenditure.
97 Interpretation.
 
Part IV
Mineral Extraction
Chapter I
Allowances and Charges
98 Writing-down and balancing allowances.
99 Disposal receipts.
100 Balancing charges: excess of allowances etc. over expenditure.
101 Occasions of balancing allowances.
102 Treatment of qualifying expenditure on mineral exploration and access.
103 Demolition costs.
104 Manner of making allowances and charges.
 
Chapter II
Qualifying Expenditure
105 General provisions.
106 Pre-trading expenditure on machinery or plant which is sold etc.
107 Pre-trading exploration expenditure.
108 Contributions by mining concerns to public services etc. outside the United Kingdom.
109 Restoration expenditure.
 
Chapter III
Limitations on Qualifying Expenditure etc.
110 Expenditure on the acquisition of land.
111 Reduction of qualifying expenditure for premium relief.
112 Restriction of disposal receipts.
113 Assets formerly owned by traders.
114 Assets previously acquired.
115 Expenditure partly attributable to mineral exploration and access.
116 Oil licences etc.
117 Transfer of mineral assets within a group.
118 Assets formerly owned by non-traders.
 
Chapter IV
Supplementary Provisions
119 Transitional provisions relating to old expenditure.
120 Time when expenditure is incurred.
121 Interpretation of Part IV.
 
Part V
Agricultural Buildings etc.
Chapter I
Agriculture
122 Allowances for expenditure incurred before 1st April 1986.
123 Allowances for expenditure incurred after 31st March 1986.
124 Expenditure qualifying for allowances.
125 Meaning of "major interest" and "the relevant interest".
126 Transfers of relevant interest.
127 Buildings etc. bought unused.
128 Balancing allowances and charges.
129 Balancing events.
130 Restriction of balancing allowances on sale of buildings.
 
Chapter II
Forestry
131 Forestry: transitional provisions.
 
Chapter III
Supplemental
132 Manner of making allowances and charges.
133 Interpretation of Part V.
 
Part VI
Dredging
134 Allowances for expenditure on dredging.
135 Interpretation of Part VI.
 
Part VII
Scientific Research
136 Allowances for expenditure on scientific research not of a capital nature, and on payments to research associations, universities etc.
137 Allowances for capital expenditure on scientific research.
138 Assets ceasing to belong to traders.
139 Supplemental.
 
Part VIII
Supplementary Provisions
140 Income tax allowances and charges in taxing a trade etc.
141 Other income tax allowances.
142 Restriction of set-off of allowances against general income.
143 Tax agreements.
144 Corporation tax allowances and charges in taxing a trade.
145 Other corporation tax allowances.
146 Writing-down allowances under Parts V and VI.
147 Exclusion of double allowances.
148 Double allowances: transitional provisions.
149 Companies not resident in the United Kingdom.
150 Apportionment of consideration, and exchanges and surrenders of leasehold interests.
151 Procedure on apportionments.
152 Succession to trades etc.
153 Subsidies, contributions etc.
154 Allowances in respect of contributions to capital expenditure.
155 Further provisions relating to capital contributions.
156 Meaning of "sale, insurance, salvage or compensation moneys".
157 Sales between connected persons etc.
158 Further provisions relating to sales without change of control or between connected persons.
159 Capital expenditure, capital sums and time when capital expenditure was incurred.
160 Meaning of "basis period".
161 Other interpretative provisions.
162 Application to Scotland.
163 Continuity and construction of enactments etc.
164 Commencement, amendments and repeals.
165 Short title.
 
 Schedule 1 Consequential amendments.
 Schedule 2 Repeals.




 
notes:

[1]A table showing the derivation of the provisions of this consolidation Act will be found at the end of the Act. The table has no official status. back

 
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Prepared 20th September 2000



Capital Allowances Act 1990 is reproduced under the terms of Crown Copyright Policy Guidance issued by HMSO.
Publishing Rights: Coddan CPM Core Licence (HMSO) number is C02W0007897 issued on 25 November 2005 by HMSO Licensing Division (Core Licence.pdf Licence to reproduce public sector information).

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