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  1. E-quick package
  2. Economy package
  3. Premier package
  4. Deluxe package
If you are thinking about setting up a business, and need it done quickly and easily with no additional requirements, then this package is the perfect choice.
This package is a cheap and efficient way to begin business, and includes the provision of a registered office address in London for the duration of one year.
This package is a not expensive and efficient way to begin business, and includes the provision of a registered office address in London and a nominee secretary for the duration of one year.
This package is one of the most cost effective and the efficient way to start a UK company, which includes a registered office address in London, a nominee secretary, and a nominee director for the duration of one year.
E-quick*
£32.00
Economy
£82.00
Premier
£207.00
Deluxe
£557.00
Private company limited by shares
No Annual Charges
Private company limited by shares
Annual Fee From: £50.00
Private company limited by shares
Annual Fee From: £175.00
Private company limited by shares
Annual Fee From: £525.00
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Further information

Private Company Limited by Shares:

  • A private company limited by shares in England and Wales must have at least one director, one shareholder, and may have a secretary.

  • You need at least one person to form this type of company. If there is only one director, and that director is a natural person in your company, that director can also act as the secretary.

  • A company must have at least one director who is a natural person. This requirement is met if the office of director is held by a natural person as a corporation sole or otherwise by virtue of an office.

  • You can register a sole director' company, if you are familiar with the secretaries duties and responsibilities, because all of them belongs to a sole director.

  • The directors and secretary of your company can also be shareholders.

  • The Companies Act imposes no restriction on the minimum age of company directors. However Companies House will actively discourage the appointment of anyone under the age of 16 from taking up a company directorship on the grounds that the individuals concerned may not fully understand the legal liabilities that go with the position and for the most part will not have the experience necessary to perform the duties of a company director.

  • Under the Companies Act 2006, there is no restriction on any or all of the members/shareholders being from an overseas country (i.e. outside the United Kingdom in terms of residency, domicile, citizenship, place of incorporation or all or any of those concepts).

  • There is no requirement for the officers of your company to be UK citizens or residents, nor for them to hold valid work permits.

  • Owning, or being an officer of a UK company does not, however, grant you any right to live or work in the UK if you are a foreign national.

  • Your company must have a registered office address within England or Wales; this is the official address of your company and will be on the public record as such.

  • Your company must hold its official company documents at its registered office address: its register of shareholders, and its constitutional documents.

  • So long as you maintain a registered office address in England or Wales, you can conduct your business from any place in the world: you do not have to run your business from your registered office address.

  • Coddan offers company formation, ready-made company registration for UK limited companies. We offer electronic filing enterprises & registering corporation services. In addition to business registrations, we offer trademark registration, shareholder agreements, toll-free numbers, telephone answering, virtual office and company searches for UK limited companies. You are an accountant for whom company establishment is a frequent activity or an individual ordering your first company registrations. Start a company by incorporating or forming a LTD, PLC or LLP at Coddan. Learn about incorporation & how to incorporate your business online: register a business name, company registration, business registration numbers, company house web filing - business name registration check. Whether you start-up online, register London business or form a corporation Scotland, we can help you understand the business start-up process for filing LTD United Kingdom.
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    Incorporate or form an LLC – online: company registrar United Kingdom, limited company formations & corporation registration, electronically LLC online, very easy and informative. In addition to private companies Great Britain, we offer trademark registration, shareholder agreements, 0870 numbers, telephone answering, virtual office and company searches for English companies. Information to help start, grow or manage a small business. If you are starting a business Edinburgh or starting own business Northern Ireland, read our starting business Republic of Ireland guide. Home business and small business training and ideas site to help you start Belfast, grow, and expand a home-based business or search for the work at home job right. An outline of the general steps for incorporation in Great Britain, explaining how to incorporate your business Dublin, from choosing where to incorporate your business. UK ready-made company formation services and company registrations online, our offices keep a stock of ready made companies, and would be happy to supply details on request. We offer offshore ready-made companies in different jurisdictions, readymade offshore companies also called as offshore shelf companies, shelf off-shore companies for sale: starting applying for a business name, business name registration partnership, grants for starting a business and starting a business from home.
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    Open company same-day and offshore setting-up services using our online starting-up service for Limited Liability Company Offshore companies. Start enjoying the tax benefits and personal liability protection that forming a corporation or Limited Liability Company (LLC) provides. Offshore company incorporation, offshore checking and offshore saving accounts, offshore time deposits, offshore mutual funds, offshore money market accounts and offshore asset protection provided by Coddan. Company formations, limited company formations, electronic incorporations, company formation agents, paperless company registrar, electronic companies filing, United Kingdom limited company, setting corporation Ireland, business incorporation Scotland, open company England, London company registration, electronic companies filing, British companies registrars, business consultants, company law, public limited company, plc, international companies, ltd, inc, limited liability, enterprise, organization, organization, tax, taxation, England, firm, partnership, trade, profession, contractors, business, private limited company, limited by shares, ready-made companies, readymade company, aged company, off the shelf company, shelf companies list.
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    Specializes in company registration and secretarial services. Provides list of shelf company, services and cost quotation, business name registration, company house direct, starting a business - sole trader business registration.

    This is actually a pretty good reason to incorporate in Delaware or Nevada. In fact, you could be a foreigner from Lebanon, never setting foot on American soil, form a Delaware corporation and no one would know who you are! However, many states will require the owners and/or officers and/or directors information while operating in that state (as a foreign corp.). Besides, how many small businesses require anonymity? Incorporate, incorporation, incorporating, incorporation services, incorporating services, incorporate Wyoming business online, incorporating Oregon business, New York LLC formation, Louisiana limited liability corporation, Texas articles of incorporation, Florida company incorporation, California non profit corporation, corporate name search offshore, BVI corporate name availability, Seychelles corporate name registration.
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    Learn about incorporation services UK and incorporate London online: starting your own business, business ideas, starting a business on ebay or buying a business with legal requirements for starting a business. Online England company formations, online company London W1 formation, Glasgow formation agent, Liverpool formations agent, Scottish companies house, forming a company Scotland, starting a business Wales, form a limited company Oxford, United Kingdom business registration agents, online Great Britain company registration. E-Business, small business, business structures defined: the limited liability company business structures defined: the limited liability company IRS treatment of the one-member LLC. An LLC with only one member / owner is automatically considered to be a sole proprietorship unless an election is made to be treated as a corporation. Thus, the sole member of an LLC will file (Form 1040), (U.S. Individual Income Tax Return), ideas for starting a business, grants for starting a business, starting a business from home, starting your own business - business ideas, starting a business on ebay, buying a business: legal requirements for starting a business, ideas for starting a business.
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    A business may be conducted by a company as an entity in its own right and comes into existence by incorporation under companies legislation which also regulates the running of the company and sets out the duties of its officers. In recent years trading trusts have been commonly used as the structure for carrying on a business with their main objective of tax minimization. A trust requires a trustee to act on behalf of a trust and it has been preferable to have a company newly incorporated to act as the trustee as it is believed that this limits the liability of the trust to the paid-up capital of the Trustee Company. A trust is formed by a gift or settlement being made to the trustee on behalf of the, as yet unformed, trust. A solicitor draws up a Trust Deed setting out the powers and formalizing the administration of the trust. The trust has beneficiaries rather than shareholders as in a company, who are entitled to distributions of capital and/or income and these distributions, are controlled by the trustee.
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    The distribution made to beneficiaries are subject to income tax as part of their personal income and are liable for provisional tax on these distributions. Citizens and residents of other countries may incorporate in the United Kingdom through the standard incorporation procedures set forth by each state. Provides UK company formations, trademark registration, registered office facilities and company secretary services. Professional company formation, register your company online, we may establish new business at one day. An online guide to starting up and expanding your business.
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    This is one of our most popular packages with worldwide customers, and includes: -

  • EQUICK-4 zvezdy :-****
  • Pomeniat' sro4no. Eto economy4 zvezdy. -

  • ECooonooomyy-4 zvezdy :-****
  • Premier blablabla 4 zvezdy. -

  • premier-4 zvezdy;)
  • Our Deluxe package is a fast and easy option, it is ideal for the UK, EU, and international small to medium businesses who wish to appoint a nominee director and a nominee secretary in order to maintain the anonymity of the real owner, and it includes: -

  • Incorporation of your company from scratch using one of our registered office addresses in London, our nominee director and nominee secretary. We can appoint your own candidate(s) to the role of shareholder(s), or you can appoint a nominee sharholder provided by Coddan;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
    • The provision of a registered office address for 12 months is included in the price of this package (our registered office address service is charged annually);
    • The provision of a nominee secretary for 12 months is included in the price of this package (our nominee secretary service is charged annually);
    • The provision of a nominee director for 12 months is also included in the price of this package (our nominee director service is charged annually);

    The following two hard bound copies of corporate documents, will be send by post to you upon formation of your private limited company: -

  • A laminated copy of the certificate of incorporation of your company;
  • A hard bound copy of the memorandum and articles of association;
  • A hard bound copy of the minutes of the first meeting of directors;
  • Share certificates, and your company register;
  • The general power of attorney signed by a nominee director;
  • Pre-signed, undated resignation letter from a nominee director;
  • The agreement for the provision of nominee service and indemnification of nominee.
  • 2 zdezda deluxe. -

  • 2 zdezda deluxe)
  • 3 zdezda deluxe. -

  • 3 zdezda deluxe
  • 4 zdezda deluxe -

  • 4444444
  • This is our most popular package with the UK residents, and includes: -

  • The registration of your company from scratch using your own registered office address, and appoint your own candidates to the roles of director, secretary (if needed), and shareholder;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
  • The following documents, which need to be printed and signed, will be e-mailed to you upon formation of your company: -

  • A certificate of incorporation (requires PDF file reader);
  • The memorandum & articles of association (requires PDF file reader);
  • The first meeting of the board of directors (requires PDF file reader);
  • Share certificates and a company register (requires PDF file reader).
  • *If you do not have an a valid address in the UK, which can be used as the registered office address for your company, please check our Economy package. The non-UK address cannot be acceptable as the office address for the UK company.

    This is our most popular package with the UK and EU residents, and includes: -

  • The registration your company from scratch using one of our registered office addresses, and appoint your own candidates to the roles of director, secretary (if needed), and shareholder;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
    • The provision of a registered office address for 12 months is also included in the price of this package (our registered office address service is charged annually);

    The following documents, which need to be printed and signed, will be e-mailed to you upon formation of your company: -

  • A certificate of incorporation (requires PDF file reader);
  • The memorandum & articles of association (requires PDF file reader);
  • The first meeting of the board of directors (requires PDF file reader);
  • Share certificates and a company register (requires PDF file reader).
  • This is another one very popular package with worldwide customers, and includes: -

  • The formation of a company limited by guarantee usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
  • The incorporation your BVI company limited by guarantee from scratch using our registered agent & registered office address, and appoint your own candidate to the role of a members;
  • The government and initiation fees for incorporation are included in the price of this package;
  • The search for a company name availability, confirmation, and reservation;
  • An original certificate of incorporation
  • A hard bound copy of the memorandum & articles of association
  • The preparation and submission of the memorandum and articles of association;
  • A local registered office address and a local registered agent for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
  • The provision of a nominee director for one year is also included in the price of this package (our nominee director service is charged annually);

  • To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
  • The following hard bound copy of corporate documents, will be posted to you upon formation of your company limited by guarantee: -

  • An original certificate of incorporation;
  • A hard bound copy of the memorandum and articles of association;
  • The minutes of the first meeting of the board of directors;
  • A completed register of directors and members;
  • An elegant printed membership certificates;
  • A pliers seal.
  • The general power of attorney signed by a nominee director (additional fee applies);
  • Pre-signed, undated resignation letter from a nominee director;
  • The agreement for the provision of a nominee service and indemnification of nominee.
  • This is our most popular package with international customers, and includes: -

  • The formation of a company limited by guarantee usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
  • The registration your BVI company limited by guarantee from scratch using our registered agent & registered office address, and appoint our own candidates to the role of a nominee director and a nominee member;
  • The government and initiation fees for incorporation are included in the price of this package;
  • The search for a company name availability, confirmation, and reservation;
  • The preparation and submission of the memorandum and articles of association;
  • A local registered office address and a local registered agent for one year are included in the price of this package (our registered agent & office address service are charged annually);
  • The provision of a nominee director for 12 months is included in the price of this package (our nominee director service is charged annually);
  • A completed register of directors and members
  • The provision of a nominee member for 12 months is also included in the price of this package (our nominee member service is charged annually);

  • To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
  • The following hard bound copy of corporate documents, will be posted to you upon formation of your company limited by guarantee: -

  • An original certificate of incorporation;
  • A hard bound copy of the memorandum and articles of association;
  • The minutes of the first meeting of the board of directors;
  • A completed register of directors and members;
  • An elegant printed membership certificates;
  • A pliers seal.
  • Pre-signed, undated letters of resignation from a nominee director and a nominee member;
  • A general power of attorney signed by a nominee director (additional fee applies);
  • A declaration of trust from a nominee member;
  • An indemnity letter for the power of attorney;
  • A nominee agreement which provides for the indemnification of the nominees.
  • This is another one of our most popular packages for small and medium size businesses, such as those being run by a sole director from home, and for companies owned by overseas residents who still need a local registered office address, but would rather not open a local office in the UK;

    This package is often chosen by such customers, who are looking to minimise a sole director' personal liability (and who are not quite familiar with the UK corporate legislation), because this package includes thye provision of a nominee secretary for 12 months. This package is also includes: -

  • The registration your company from scratch using one of our registered office addresses, and appoint your own candidates to the roles of director, and shareholder;
  • The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);
  • The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
  • The government fee for incorporation is included in the price of this package;
    • The provision of a registered office address for 12 months is included in the price of this package (our registered office address service is charged annually);
    • The provision of a nominee secretary for 12 months is also included in the price of this package (our nominee secretary service is charged annually);

    The following hard bound copy of the corporate documents, will be send by post to you, upon formation of your private limited company: -

  • A laminated copy of the certificate of incorporation of your company;
  • A hard bound copy of the memorandum and articles of association;
  • A hard bound copy of the minutes of the first meeting of directors;
  • Share certificates, and your company register.
  • This is another one very popular package with worldwide customers, and includes: -

  • The formation of a limited partnership usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
  • The incorporation your BVI offshore limited partnership from scratch using our registered agent & registered office address, and appoint your own candidate to the role of a general partner;
  • The government and initiation fees for registration are included in the price of this package;
  • The search for a limited partnership name availability, confirmation, and reservation;
  • The preparation and submission of the partnership agreement;
  • A local registered office address and a local registered agent for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
  • The provision of a nominee limited partner for one year is also included in the price of this package (our nominee limited partner service is charged annually);

  • To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
  • The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -

  • An original certificate of incorporation;
  • A hard bound copy of the partnership agreement;
  • The minutes of the first meeting of the board of partners;
  • A completed register of partners;
  • An elegant printed membership certificates;
  • A pliers seal;
  • The general power of attorney signed by a nominee limited partner (additional fee applies);
  • Pre-signed, undated resignation letter from a nominee limited partner;
  • The agreement for the provision of a nominee service and indemnification of nominee.
  • This is our most popular package with international customers, and includes: -

    This is our most popular package with international customers, and includes: -

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    Organization Structures Business, Incorporate Your Business Online, Incorporation Services at Affordable Prices, Learn About Incorporating and How to IncorporateSetting up a Business in United Kingdom, Incorporatin Business, Forming an LLC, Incorporate online in Delaware, Nevada, London, Florida, New YorkCompany UK Formation, Online UK Company Formation Agents, Plus a Wide Range of Ready-Made Companies Available and Vintage CompaniesWhat are the Advantages of Incorporation? You Can Now Form Your UK Limited Company Online Using Our Company Registration AgentHow Do I Get Started With the Registration Process? Company Formation & Registration of Offshore Companies Incorporation ServiceUK Limited Company Formation and Offshore Companies Incorporation Service, We Provide Online New Company Formations and Offshore Readymade CorporationSetting up a Business in United Kingdom, Cheap IBC Incorporation Offshore Anonymous Banking Internet Offshore Bank AccountUK Company Formation, Online Company Registration Agent Offering Same-Day Company Formation, Business BankingServices Include Companies Formation and Administration, Trademark, Intellectual Property, Company Search ServicesAn On-Line Resource to Setting-Up a Private Limited Company Without Hiring a Solicitor or Formation AgenStarting a Business Information, Advice and Information for Starting a New Business in the UK Including UK Business Start-UpHelp in Starting Up a Business Up-to-Date Advice and Strategies, Start Your Own Business and Gain Your Independence!Incorporate a Business in Any State, London, Glasgow, Form an LLC, Conduct a Trademark Search OnlineSmall Business Resources for Starting a Small Business, Small Business Marketing
    Royal ArmsCapital Allowances Act 2001

    2001 Chapter 2


     

    © Crown Copyright 2001

    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.

    The legislation contained on this web site is subject to Crown Copyright protection. It may be reproduced free of charge provided that it is reproduced accurately and that the source and copyright status of the material is made evident to users.

    It should be noted that the right to reproduce the text of Acts of Parliament does not extend to the Queen's Printer imprints which should be removed from any copies of the Act which are issued or made available to the public. This includes reproduction of the Act on the Internet and on intranet sites. The Royal Arms may be reproduced only where they are an integral part of the original document.

    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 2001, ISBN 0 10 540201 X. Braille copies of this Act can also be purchased at the same price as the print edition by contacting TSO Customer Services on 0870 600 5522.

    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 2001

    2001 Chapter 2

     
     
     
    CONTENTS

    PART 1
    INTRODUCTION
    CHAPTER 1
    CAPITAL ALLOWANCES: GENERAL
    Section 
    1Capital allowances
    2General means of giving effect to capital allowances
    3Claims for capital allowances
    4Capital expenditure
    5When capital expenditure is incurred
    6Meaning of "chargeable period"

    CHAPTER 2
    EXCLUSION OF DOUBLE RELIEF
    7No double allowances
    8No double relief through pooling under Part 2 (plant and machinery allowances)
    9Interaction between fixtures claims and other claims
    10Interpretation

    PART 2
    PLANT AND MACHINERY ALLOWANCES
    CHAPTER 1
    INTRODUCTION
    11General conditions as to availability of plant and machinery allowances
    12Expenditure incurred before qualifying activity carried on
    13Use for qualifying activity of plant or machinery provided for other purposes
    14Use for qualifying activity of plant or machinery which is a gift

    CHAPTER 2
    QUALIFYING ACTIVITIES
    15Qualifying activities
    16Ordinary Schedule A businesses
    17Furnished holiday lettings businesses
    18Management of investment companies
    19Special leasing of plant or machinery
    20Employments and offices

    CHAPTER 3
    QUALIFYING EXPENDITURE
    Buildings, structures and land
    21Buildings
    22Structures, assets and works
    23Expenditure unaffected by sections 21 and 22
    24Interests in land
    25Building alterations connected with installation of plant or machinery

    Demolition costs
    26Demolition costs

    Expenditure on thermal insulation, safety measures, etc.
    27Application of Part to thermal insulation, safety measures, etc.
    28Thermal insulation of industrial buildings
    29Fire safety
    30Safety at designated sports grounds
    31Safety at regulated stands at sports grounds
    32Safety at other sports grounds
    33Personal security

    Exclusion of certain types of expenditure
    34Expenditure by MPs and others on accommodation
    35Expenditure on plant or machinery for use in dwelling-house not qualifying expenditure in certain cases
    36Restriction on qualifying expenditure in case of employment or office
    37Exclusion where sums payable in respect of depreciation
    38Production animals etc.

    CHAPTER 4
    FIRST-YEAR QUALIFYING EXPENDITURE
    General
    39First-year allowances available for certain types of qualifying expenditure only

    Types of expenditure which may qualify for first-year allowances
    40Expenditure incurred for Northern Ireland purposes by small or medium-sized enterprises
    41Miscellaneous exclusions from section 40 (expenditure for Northern Ireland purposes etc.)
    42Exclusion of plant or machinery partly for use outside Northern Ireland
    43Effect of plant or machinery subsequently being primarily for use outside Northern Ireland
    44Expenditure incurred by small or medium-sized enterprises
    45ICT expenditure incurred by small enterprises
    46General exclusions applying to sections 40, 44 and 45

    Expenditure of small or medium-sized enterprises
    47Expenditure of small or medium-sized enterprises: companies
    48Expenditure of small or medium-sized enterprises: businesses
    49Whether company is a member of a large or medium-sized group

    Supplementary
    50Time when expenditure is incurred
    51Disclosure of information between UK tax authorities

    CHAPTER 5
    ALLOWANCES AND CHARGES
    First-year allowances
    52First-year allowances

    Pooling
    53Pooling of qualifying expenditure
    54The different kinds of pools

    Writing-down and balancing allowances and balancing charges
    55Determination of entitlement or liability
    56Amount of allowances and charges

    Available qualifying expenditure
    57Available qualifying expenditure
    58Initial allocation of qualifying expenditure to pools
    59Unrelieved qualifying expenditure

    Disposal events and disposal values: general
    60Meaning of "disposal receipt" and "disposal event"
    61Disposal events and disposal values
    62General limit on amount of disposal value
    63Cases in which disposal value is nil
    64Case in which no disposal value need be brought into account

    The final chargeable period
    65The final chargeable period

    List of provisions outside this Chapter about disposal values
    66List of provisions outside this Chapter about disposal values

    CHAPTER 6
    HIRE-PURCHASE ETC. AND PLANT OR MACHINERY PROVIDED BY LESSEE
    Hire-purchase and similar contracts
    67Plant or machinery treated as owned by person entitled to benefit of contract, etc.
    68Disposal value on cessation of notional ownership
    69Hire-purchase etc. and fixtures

    Plant or machinery provided by lessee
    70Plant or machinery provided by lessee

    CHAPTER 7
    COMPUTER SOFTWARE
    71Software and rights to software
    72Disposal values
    73Limit on disposal values

    CHAPTER 8
    CARS, ETC.
    Cars above the cost threshold
    74Single asset pool
    75General limit on amount of writing-down allowance
    76Limit where part of expenditure met by another person
    77Car used partly for purposes other than those of qualifying activity
    78Effect of partial depreciation subsidy
    79Cases where Chapter 17 (anti-avoidance) applies

    Vehicles provided for purposes of employment or office
    80Vehicles provided for purposes of employment or office

    Interpretation
    81Extended meaning of "car"
    82Qualifying hire cars

    CHAPTER 9
    SHORT-LIFE ASSETS
    83Meaning of "short-life asset"
    84Cases in which short-life asset treatment is ruled out
    85Election for short-life asset treatment: procedure
    86Short-life asset pool
    87Short-life assets provided for leasing
    88Sales at under-value
    89Disposal to connected person

    CHAPTER 10
    LONG-LIFE ASSETS
    Long-life asset expenditure
    90Long-life asset expenditure
    91Meaning of "long-life asset"
    92Application of Chapter to part of expenditure

    Expenditure excluded from being long-life asset expenditure
    93Fixtures etc.
    94Ships
    95Railway assets
    96Cars
    97Expenditure within the relevant monetary limit: general
    98Expenditure to which the monetary limits apply
    99The monetary limit
    100Exceeding the monetary limit

    Rules applying to long-life asset expenditure
    101Long-life asset pool
    102Writing-down allowances at 6%

    Anti-avoidance provisions
    103Later claims
    104Disposal value of long-life assets

    CHAPTER 11
    OVERSEAS LEASING
    Basic terms
    105"Leasing", "overseas leasing" etc.
    106The designated period

    Certain expenditure to be pooled
    107The overseas leasing pool
    108Effect of disposal to connected person on overseas leasing pool

    Allowances reduced or, in certain cases, prohibited
    109Writing-down allowances at 10%
    110Cases where allowances are prohibited

    Recovery of excess allowances
    111Excess allowances: standard recovery mechanism
    112Excess allowances: connected persons
    113Excess allowances: special provision for ships

    Recovery of allowances given in cases where prohibition applies
    114Prohibited allowances: standard recovery mechanism
    115Prohibited allowances: connected persons

    Application of Chapter in relation to joint lessees
    116Mitigation of regime
    117Recovery of allowances in case of joint lessees

    Duties to supply information
    118Certificate relating to protected leasing
    119Notice of change of use of plant or machinery
    120Notice and joint lessees

    Qualifying purposes
    121Meaning of "short-term leasing"
    122Short-term leasing by buyer, lessee, etc.
    123Ships and aircraft
    124Transport containers
    125Other qualifying purposes

    Minor definitions
    126Minor definitions

    CHAPTER 12
    SHIPS
    Pooling and postponement of allowances
    127Single ship pool
    128Expenditure which is not to be allocated to single ship pool
    129Election to use the appropriate non-ship pool
    130Notice postponing first-year or writing-down allowance
    131Effect of postponement
    132Disposal events and single ship pool
    133Ship not used

    Deferment of balancing charges
    134Deferment of balancing charges: introduction
    135Claim for deferment
    136Further conditions for deferment
    137Effect of deferment
    138Limit on amount deferred
    139Amount taken into account in respect of old ship

    Attribution of deferred amounts
    140Notice attributing deferred amounts to new expenditure
    141Deferred amounts attributed to earlier expenditure first
    142Variation of attribution
    143Effect of attribution
    144Amounts which cease to be attributable
    145Requirement to notify where no entitlement to defer amounts

    Expenditure on new shipping
    146Basic meaning of expenditure on new shipping
    147Exclusions: ship previously owned
    148Exclusions: object to secure deferment
    149Exclusions: later events
    150Exclusions where expenditure not incurred by shipowner

    Qualifying ships
    151Basic meaning of qualifying ship
    152Ships under 100 tons
    153Ships which are not qualifying ships
    154Further registration requirement

    Deferment of balancing charges: supplementary provisions
    155Change in the persons carrying on the qualifying activity
    156Connected persons

    Further provisions
    157Adjustment of assessments etc.
    158Members of same group

    CHAPTER 13
    PROVISIONS AFFECTING MINING AND OIL INDUSTRIES
    Expenditure connected with mineral extraction trades
    159Meaning of "mineral extraction trade" etc.
    160Expenditure treated as incurred for purposes of mineral extraction trade
    161Pre-trading expenditure on mineral exploration and access

    Provisions relating to ring fence trades
    162Ring fence trade a separate qualifying activity
    163Meaning of "abandonment expenditure"
    164Abandonment expenditure incurred before cessation of ring fence trade
    165Abandonment expenditure within 3 years of ceasing ring fence trade

    Transfers of interests in oil fields: anti-avoidance
    166Transfers of interests in oil fields: anti-avoidance

    Oil production sharing contracts
    167Oil production sharing contracts
    168Expenditure on plant or machinery incurred by contractor
    169Expenditure on plant or machinery incurred by participator
    170Participator's expenditure attributable to plant or machinery
    171Disposal values on cessation of ownership

    CHAPTER 14
    FIXTURES
    Introduction
    172Scope of Chapter etc.
    173Meaning of "fixture" and "relevant land"
    174Meaning of "equipment lease" and "lease"
    175Meaning of "interest in land", etc.

    Persons who are treated as owners of fixtures
    176Person with interest in relevant land having fixture for purposes of qualifying activity
    177Equipment lessors
    178Equipment lessee has qualifying activity etc.
    179Equipment lessor has right to sever fixture that is not part of building
    180Equipment lease is part of affordable warmth programme
    181Purchaser of land giving consideration for fixture
    182Purchaser of land discharging obligations of equipment lessee
    183Incoming lessee where lessor entitled to allowances
    184Incoming lessee where lessor not entitled to allowances

    Restrictions on amount of qualifying expenditure
    185Fixture on which a plant and machinery allowance has been claimed
    186Fixture on which an industrial buildings allowance has been made
    187Fixture on which a research and development allowance has been made

    Cessation of ownership of fixtures
    188Cessation of ownership when person ceases to have qualifying interest
    189Identifying the qualifying interest in special cases
    190Cessation of ownership of lessor where section 183 applies
    191Cessation of ownership on severance of fixture
    192Cessation of ownership of equipment lessor

    Acquisition of ownership of fixture when another ceases to own it
    193Acquisition of ownership by lessor or licensor on termination of lease or licence
    194Acquisition of ownership by assignee of equipment lessor
    195Acquisition of ownership by equipment lessee

    Disposal values
    196Disposal values in relation to fixtures: general
    197Disposal values in avoidance cases

    Election to fix apportionment
    198Election to apportion sale price on sale of qualifying interest
    199Election to apportion capital sum given by lessee on grant of lease
    200Elections under sections 198 and 199: supplementary
    201Elections under sections 198 and 199: procedure

    Further provisions
    202Interpretation
    203Amendment of returns etc.
    204Appeals etc.

    CHAPTER 15
    ASSET PROVIDED OR USED ONLY PARTLY FOR QUALIFYING ACTIVITY
    205Reduction of first-year allowances
    206Single asset pool etc.
    207Reduction of allowances and charges on expenditure in single asset pool
    208Effect of significant reduction in use for purposes of qualifying activity

    CHAPTER 16
    PARTIAL DEPRECIATION SUBSIDIES
    209Meaning of "partial depreciation subsidy"
    210Reduction of first-year allowances
    211Single asset pool etc.
    212Reduction of allowances and charges on expenditure in single asset pool

    CHAPTER 17
    ANTI-AVOIDANCE
    Relevant transactions
    213Relevant transactions: sale, hire-purchase (etc.) and assignment

    Restrictions on allowances
    214Connected persons
    215Transactions to obtain allowances
    216Sale and leaseback, etc.
    217No first-year allowance for B's expenditure
    218Restriction on B's qualifying expenditure

    Finance leases
    219Meaning of "finance lease"
    220Allocation of expenditure to a chargeable period

    Sale and finance leasebacks
    221Meaning of "sale and finance leaseback"
    222Disposal value restricted
    223No first-year allowance for B's expenditure
    224Restriction on B's qualifying expenditure
    225B's qualifying expenditure if lessor not bearing non-compliance risk
    226Qualifying expenditure limited in subsequent transactions

    Sale and leaseback or sale and finance leaseback: election for special treatment
    227Circumstances in which election may be made
    228Effect of election: relaxation of restriction on B's qualifying expenditure, etc.

    Miscellaneous and supplementary
    229Hire-purchase etc.
    230Exception for manufacturers and suppliers
    231Adjustments of assessments etc.
    232Meaning of connected person
    233Additional VAT liabilities and rebates

    CHAPTER 18
    ADDITIONAL VAT LIABILITIES AND REBATES
    Introduction
    234Introduction

    Additional VAT liability
    235Additional VAT liability treated as qualifying expenditure
    236Additional VAT liability generates first-year allowance
    237Exceptions to section 236

    Additional VAT rebate
    238Additional VAT rebate generates disposal value
    239Limit on disposal value where additional VAT rebate

    Short-life assets: balancing allowance
    240Additional VAT liability

    Anti-avoidance
    241No first-year allowance in respect of additional VAT liability
    242Restriction on B's qualifying expenditure: general
    243Restriction on B's qualifying expenditure: sale and finance leaseback
    244B's qualifying expenditure if lessor not bearing non-compliance risk
    245Effect of election under section 227 on additional VAT liability
    246Miscellaneous

    CHAPTER 19
    GIVING EFFECT TO ALLOWANCES AND CHARGES
    Trades
    247Trades

    Property businesses
    248Ordinary Schedule A businesses
    249Furnished holiday lettings businesses
    250Overseas property businesses

    Activities analogous to trades
    251Professions and vocations
    252Mines, transport undertakings etc.

    Investment companies
    253Investment companies

    Life assurance business
    254Introductory
    255Apportionment of allowances and charges
    256Different giving effect rules for different categories of business
    257Supplementary

    Special leasing of plant or machinery
    258Special leasing: income tax
    259Special leasing: corporation tax (general)
    260Special leasing: corporation tax (excess allowance)
    261Special leasing: life assurance business

    Employments and offices
    262Employments and offices

    CHAPTER 20
    SUPPLEMENTARY PROVISIONS
    Partnerships and successions
    263Qualifying activities carried on in partnership
    264Partnership using property of a partner
    265Successions: general
    266Election where predecessor and successor are connected persons
    267Effect of election
    268Successions by beneficiaries

    Miscellaneous
    269Use of plant or machinery for business entertainment
    270Shares in plant or machinery

    PART 3
    INDUSTRIAL BUILDINGS ALLOWANCES
    CHAPTER 1
    INTRODUCTION
    271Industrial buildings allowances
    272Expenditure on the construction of a building
    273Preparation of sites for plant or machinery

    CHAPTER 2
    INDUSTRIAL BUILDINGS
    Buildings in use for the purposes of a qualifying trade
    274Trades and undertakings which are "qualifying trades"
    275Building used for welfare of workers
    276Parts of trades and undertakings
    277Exclusion of dwelling-houses, retail shops, showrooms, hotels and offices etc.
    278Building used by more than one licensee

    Qualifying hotels and sports pavilions
    279Qualifying hotels
    280Qualifying sports pavilions

    Commercial buildings (enterprise zones)
    281Commercial buildings (enterprise zones)

    Supplementary provisions
    282Buildings outside the United Kingdom
    283Non-industrial part of building disregarded
    284Roads on industrial estates etc.
    285Cessation of use and temporary disuse of building

    CHAPTER 3
    THE RELEVANT INTEREST IN THE BUILDING
    286General rule as to what is the relevant interest
    287Interest acquired on completion of construction
    288Effect of creation of subordinate interest
    289Merger of leasehold interest
    290Election to treat grant of lease exceeding 50 years as sale
    291Supplementary provisions with respect to elections

    CHAPTER 4
    QUALIFYING EXPENDITURE
    Introduction
    292Meaning of "qualifying expenditure"
    293Meaning of references to carrying on a trade as a developer

    Qualifying expenditure
    294Capital expenditure on construction of a building
    295Purchase of unused building where developer not involved
    296Purchase of building which has been sold unused by developer
    297Purchase of used building from developer

    Qualifying enterprise zone expenditure
    298The time limit for qualifying enterprise zone expenditure
    299Application of section 294
    300Application of sections 295 and 296
    301Purchase of building within 2 years of first use

    Part of expenditure within time limit for qualifying enterprise zone expenditure
    302Qualifying enterprise zone expenditure where section 295 or 296 applies
    303Purchase of building within 2 years of first use
    304Application of section 303 where developer involved

    CHAPTER 5
    INITIAL ALLOWANCES
    305Initial allowances for qualifying enterprise zone expenditure
    306Amount of initial allowance and period for which allowance made
    307Building not industrial building when first used etc.
    308Grants affecting entitlement to initial allowances

    CHAPTER 6
    WRITING-DOWN ALLOWANCES
    309Entitlement to writing-down allowance
    310Basic rule for calculating amount of allowance
    311Calculation of allowance after sale of relevant interest
    312Allowance limited to residue of qualifying expenditure
    313Meaning of "the residue of qualifying expenditure"

    CHAPTER 7
    BALANCING ADJUSTMENTS
    General
    314When balancing adjustments are made
    315Main balancing events
    316Proceeds from main balancing events
    317Balancing event where hotel not qualifying hotel for 2 years

    Calculation of balancing adjustments
    318Building an industrial building etc. throughout
    319Building not an industrial building etc. throughout
    320Overall limit on balancing charge

    Meaning of "the relevant period of ownership" etc.
    321The relevant period of ownership
    322Starting expenditure
    323Adjusted net cost
    324Net allowances

    Balancing allowances restricted where sale subject to subordinate interest
    325Balancing allowances restricted where sale subject to subordinate interest
    326Interpretation of section 325

    Qualifying enterprise zone expenditure: effect of realising capital value
    327Capital value provisions: application of provisions
    328Balancing adjustment on realisation of capital value
    329Capital value that is attributable to subordinate interest
    330Exception for payments more than 7 years after agreement
    331Capital value provisions: interpretation

    CHAPTER 8
    WRITING OFF QUALIFYING EXPENDITURE
    332Introduction
    333Writing off initial allowances
    334Writing off writing-down allowances
    335Writing off research and development allowances
    336Writing off expenditure when building not an industrial building
    337Writing off or increase of expenditure where balancing adjustment made
    338Writing off capital value which has been realised
    339Crown or other person not within the charge to tax entitled to the relevant interest
    340Treatment of demolition costs

    CHAPTER 9
    HIGHWAY UNDERTAKINGS
    341Carrying on of highway undertakings
    342The relevant interest
    343Balancing adjustment on ending of concession
    344Cases where highway concession is to be treated as extended

    CHAPTER 10
    ADDITIONAL VAT LIABILITIES AND REBATES
    Introduction
    345Introduction

    Additional VAT liabilities
    346Additional VAT liabilities and initial allowances
    347Additional VAT liabilities and writing-down allowances
    348Additional VAT liabilities and writing off initial allowances

    Additional VAT rebates
    349Additional VAT rebates and writing-down allowances
    350Additional VAT rebates and balancing adjustments
    351Additional VAT rebates and writing off qualifying expenditure

    CHAPTER 11
    GIVING EFFECT TO ALLOWANCES AND CHARGES
    352Trades
    353Lessors and licensors
    354Buildings temporarily out of use
    355Buildings for miners etc.: carry-back of balancing allowances

    CHAPTER 12
    SUPPLEMENTARY PROVISIONS
    356Apportionment of sums partly referable to non-qualifying assets
    357Arrangements having an artificial effect on pricing
    358Requisitioned land
    359Provisions applying on termination of lease
    360Meaning of "lease" etc.

    PART 4
    AGRICULTURAL BUILDINGS ALLOWANCES
    CHAPTER 1
    INTRODUCTION
    361Agricultural buildings allowances
    362Meaning of "husbandry"
    363Expenditure on the construction of a building

    CHAPTER 2
    THE RELEVANT INTEREST
    364General rule as to what is the relevant interest
    365Effect of creation of subordinate lease
    366Interest conveyed or assigned by way of security
    367Merger of leasehold interest
    368Provisions applying on ending of lease

    CHAPTER 3
    QUALIFYING EXPENDITURE
    369Capital expenditure on construction of agricultural building
    370Purchase of relevant interest before first use of agricultural building
    371Different relevant interests in different parts of the related agricultural land

    CHAPTER 4
    WRITING-DOWN ALLOWANCES
    372Entitlement to writing-down allowance
    373Basic rule for calculating amount of allowance
    374First use of building not for purposes of husbandry, etc.
    375Effect of acquisition of relevant interest after first use of building
    376Calculation of allowance after acquisition
    377Chargeable period when balancing adjustment made
    378Allowance limited to residue of qualifying expenditure
    379Final writing-down allowance

    CHAPTER 5
    BALANCING ADJUSTMENTS
    General
    380When balancing adjustments are made
    381Balancing events (on making an election)
    382Requirements as to elections
    383Proceeds from balancing events
    384Exclusion of proportion of proceeds

    Calculation of balancing adjustments
    385Calculation of balancing adjustment
    386The residue of qualifying expenditure
    387Overall limit on balancing charge
    388Acquisition of relevant interest in part of land, etc.
    389Balancing allowances restricted where sale subject to subordinate interest etc.
    390Interpretation of section 389

    CHAPTER 6
    SUPPLEMENTARY PROVISIONS
    Giving effect to allowances and charges
    391Trades
    392Schedule A businesses

    Meaning of "freehold interest", "lease" etc.
    393Meaning of "freehold interest", "lease", etc.

    PART 5
    MINERAL EXTRACTION ALLOWANCES
    CHAPTER 1
    INTRODUCTION
    394Mineral extraction allowances
    395Qualifying expenditure
    396Meaning of "mineral exploration and access"
    397Meaning of "mineral asset"
    398Relationship between main types of qualifying expenditure
    399Expenditure excluded from being qualifying expenditure

    CHAPTER 2
    QUALIFYING EXPENDITURE ON MINERAL EXPLORATION AND ACCESS
    400Qualifying expenditure on mineral exploration and access
    401Pre-trading exploration expenditure
    402Pre-trading expenditure on plant or machinery

    CHAPTER 3
    QUALIFYING EXPENDITURE ON ACQUIRING A MINERAL ASSET
    403Qualifying expenditure on acquiring a mineral asset
    404Exclusion of undeveloped market value of land
    405Qualifying expenditure where buildings or structures cease to be used
    406Reduction where premium relief previously allowed

    CHAPTER 4
    QUALIFYING EXPENDITURE: SECOND-HAND ASSETS
    Assets reflecting expenditure on mineral exploration and access
    407Acquisition of mineral asset owned by previous trader
    408Acquisition of oil licence from non-trader
    409Acquisition of other assets from non-traders

    Qualifying expenditure on assets limited by reference to historic costs
    410UK oil licence: limit is original licence payment
    411Assets generally: limit is residue of previous trader's qualifying expenditure
    412Transfers of mineral assets within group: limit is initial group expenditure
    413Transfers of mineral assets within group: supplementary

    CHAPTER 5
    OTHER KINDS OF QUALIFYING EXPENDITURE
    414Expenditure on works likely to become valueless
    415Contribution to buildings or works for benefit of employees abroad
    416Expenditure on restoration within 3 years of ceasing to trade

    CHAPTER 6
    ALLOWANCES AND CHARGES
    Writing-down and balancing allowances and balancing charges
    417Determination of entitlement or liability
    418Amount of allowances and charges

    Unrelieved qualifying expenditure
    419Unrelieved qualifying expenditure

    Disposal values
    420Meaning of "disposal receipt"
    421Disposal of, or ceasing to use, asset
    422Use of asset otherwise than for permitted development etc.
    423Sections 421 and 422: amount of disposal value to be brought into account
    424Disposal value restricted in case of interest in land
    425Receipt of capital sum

    Cases in which a person is entitled to a balancing allowance
    426Pre-trading expenditure
    427Giving up exploration, search or inquiry
    428Ceasing to work mineral deposits
    429Buildings etc. for benefit of employees abroad ceasing to be used
    430Disposal of asset, etc.
    431Discontinuance of trade

    CHAPTER 7
    SUPPLEMENTARY PROVISIONS
    432Giving effect to allowances and charges
    433Treatment of demolition costs
    434Time when expenditure incurred
    435Shares in assets
    436Meaning of "development" etc.

    PART 6
    RESEARCH AND DEVELOPMENT ALLOWANCES
    CHAPTER 1
    INTRODUCTION
    437Research and development allowances
    438Expenditure on research and development

    CHAPTER 2
    QUALIFYING EXPENDITURE
    439Qualifying expenditure
    440Excluded expenditure: land

    CHAPTER 3
    ALLOWANCES AND CHARGES
    441Allowances
    442Balancing charges
    443Disposal values and disposal events
    444Disposal events: chargeable period for which disposal value is to be brought into account
    445Costs of demolition

    CHAPTER 4
    ADDITIONAL VAT LIABILITIES AND REBATES
    446Introduction
    447Additional VAT liability treated as additional expenditure etc.
    448Additional VAT rebate generates disposal value
    449Effect on balancing charges of additional VAT rebates in earlier chargeable periods

    CHAPTER 5
    SUPPLEMENTARY PROVISIONS
    450Giving effect to allowances and charges
    451Sales: time of cessation of ownership

    PART 7
    KNOW-HOW ALLOWANCES
    CHAPTER 1
    INTRODUCTION
    452Know-how allowances
    453Know-how as property

    CHAPTER 2
    QUALIFYING EXPENDITURE
    454Qualifying expenditure
    455Excluded expenditure

    CHAPTER 3
    ALLOWANCES AND CHARGES
    456Pooling of expenditure
    457Determination of entitlement or liability
    458Amount of allowances and charges
    459Available qualifying expenditure
    460Allocation of qualifying expenditure to pools
    461Unrelieved qualifying expenditure
    462Disposal values
    463Giving effect to allowances and charges

    PART 8
    PATENT ALLOWANCES
    CHAPTER 1
    INTRODUCTION
    464Patent allowances
    465Future patent rights
    466Grant of licences

    CHAPTER 2
    QUALIFYING EXPENDITURE
    467Qualifying expenditure
    468Qualifying trade expenditure
    469Qualifying non-trade expenditure

    CHAPTER 3
    ALLOWANCES AND CHARGES
    470Pooling of expenditure
    471Determination of entitlement or liability
    472Amount of allowances and charges
    473Available qualifying expenditure
    474Allocation of qualifying expenditure to pools
    475Unrelieved qualifying expenditure
    476Disposal value of patent rights
    477Limit on amount of disposal value

    CHAPTER 4
    GIVING EFFECT TO ALLOWANCES AND CHARGES
    478Persons having qualifying trade expenditure
    479Persons having qualifying non-trade expenditure: income tax
    480Persons having qualifying non-trade expenditure: corporation tax

    CHAPTER 5
    SUPPLEMENTARY PROVISIONS
    481Anti-avoidance: limit on qualifying expenditure
    482Sums paid for Crown use etc. treated as paid under licence
    483Meaning of "income from patents"

    PART 9
    DREDGING ALLOWANCES
    Qualifying expenditure on dredging, etc.
    484Dredging allowances
    485Qualifying expenditure
    486Pre-trading expenditure of qualifying trades, etc.

    Writing-down and balancing allowances
    487Writing-down allowances
    488Balancing allowances

    Giving effect to allowances
    489Giving effect to allowances

    PART 10
    ASSURED TENANCY ALLOWANCES
    CHAPTER 1
    INTRODUCTION
    490Assured tenancy allowances
    491Allowances available in relation to old expenditure only
    492Meaning of "approved body"
    493Expenditure on the construction of a building

    CHAPTER 2
    THE RELEVANT INTEREST
    Introduction
    494Introduction

    The relevant interest in the building
    495General rule as to what is the relevant interest in the building
    496Interest acquired on completion of construction
    497Effect of creation of subordinate interest
    498Merger of leasehold interest
    499Provisions applying on termination of lease

    The relevant interest in the dwelling-house
    500The relevant interest in the dwelling-house

    CHAPTER 3
    QUALIFYING EXPENDITURE
    501Capital expenditure on construction
    502Purchase of unused dwelling-house where developer not involved
    503Purchase of dwelling-house sold unused by developer

    CHAPTER 4
    QUALIFYING DWELLING-HOUSES
    504Requirements relating to the landlord
    505Qualifying dwelling-houses: exclusions
    506Dwelling-house ceasing to be qualifying dwelling-house

    CHAPTER 5
    WRITING-DOWN ALLOWANCES
    Entitlement to and calculation of writing-down allowances
    507Entitlement to writing-down allowance
    508Basic rule for calculating amount of allowance
    509Calculation of allowance after sale of relevant interest
    510Allowance limited to residue of qualifying expenditure attributable to dwelling-house

    Interpretation
    511Qualifying expenditure attributable to dwelling-house
    512Residue of qualifying expenditure attributable to dwelling-house

    CHAPTER 6
    BALANCING ADJUSTMENTS
    General
    513When balancing adjustments are made
    514Balancing events
    515Proceeds from balancing events

    Calculation of balancing adjustments
    516Dwelling-house a qualifying dwelling-house throughout
    517Dwelling-house not a qualifying dwelling-house throughout
    518Overall limit on balancing charge
    519Recovery of old initial allowances made on incorrect assumptions

    Meaning of "the relevant period of ownership" etc.
    520The relevant period of ownership
    521Starting expenditure
    522Adjusted net cost

    CHAPTER 7
    WRITING OFF QUALIFYING EXPENDITURE ATTRIBUTABLE TO DWELLING-HOUSE
    523Introduction
    524Writing off initial allowances
    525Writing off writing-down allowances
    526Writing off expenditure for periods when building not used as qualifying dwelling-house
    527Writing off or increase of expenditure where balancing adjustment made
    528Treatment of demolition costs

    CHAPTER 8
    SUPPLEMENTARY PROVISIONS
    529Giving effect to allowances and charges
    530Apportionment of sums partly referable to non-qualifying assets
    531Meaning of "dwelling-house", "lease" etc.

    PART 11
    CONTRIBUTIONS
    CHAPTER 1
    EXCLUSION OF EXPENDITURE MET BY CONTRIBUTIONS
    Rules excluding contributions
    532The general rule excluding contributions
    533Exclusion of contributions to dredging

    Exceptions to the general rule excluding contributions
    534Northern Ireland regional development grants
    535Insurance or compensation money
    536Contributions not made by public bodies and not eligible for tax relief

    CHAPTER 2
    CONTRIBUTION ALLOWANCES
    Contribution allowances under Parts 2 to 5
    537Conditions for contribution allowances under Parts 2 to 5
    538Plant and machinery
    539Industrial buildings
    540Agricultural buildings
    541Mineral extraction

    Effect of transfers of C's trade on contribution allowances under Parts 3, 4 and 5
    542Transfer of C's trade or relevant activity

    Contribution allowances under Part 9
    543Contribution allowances under Part 9

    PART 12
    SUPPLEMENTARY PROVISIONS
    CHAPTER 1
    LIFE ASSURANCE BUSINESS
    544Management assets
    545Investment assets

    CHAPTER 2
    ADDITIONAL VAT LIABILITIES AND REBATES: INTERPRETATION, ETC.
    546Introduction
    547"Additional VAT liability" and "additional VAT rebate"
    548Time when additional VAT liability or rebate is incurred or made
    549Chargeable period in which, and time when, additional VAT liability or rebate accrues
    550Apportionment of additional VAT liabilities and rebates
    551Supplementary

    CHAPTER 3
    DISPOSALS OF OIL LICENCES: PROVISIONS RELATING TO PARTS 5 AND 6
    Introduction
    552Meaning of "oil licence" and "interest in an oil licence"

    Oil licences relating to undeveloped areas
    553Consideration to be treated as nil
    554Circumstances in which oil licence relates to undeveloped area

    Disposal of oil licence with exploitation value
    555Disposal of oil licence with exploitation value

    Minor definitions
    556Minor definitions

    CHAPTER 4
    PARTNERSHIPS, SUCCESSIONS AND TRANSFERS
    557Application of sections 558 and 559
    558Effect of partnership changes
    559Effect of successions
    560Transfer of insurance company business
    561Transfer of a UK trade to a company in another member State

    CHAPTER 5
    MISCELLANEOUS
    Apportionment
    562Apportionment where property sold together

    Procedure for determining certain questions
    563Procedure for determining certain questions affecting two or more persons
    564Questions to which procedure in section 563 applies

    Tax agreements for income tax purposes
    565Tax agreements for income tax purposes

    Companies not resident in the United Kingdom
    566Companies not resident in the United Kingdom

    Sales treated as being for alternative amount
    567Sales treated as being for alternative amount: introductory
    568Sales treated as being at market value
    569Election to treat sale as being for alternative amount
    570Elections: supplementary

    CHAPTER 6
    FINAL PROVISIONS
    General interpretation
    571Application of Act to parts of assets
    572References to sale of property and time of sale
    573Transfers treated as sales
    574Meaning of "control"
    575Connected persons
    576Meaning of "the Inland Revenue" etc.
    577Other definitions

    Amendments, repeals, citation etc.
    578Consequential amendments
    579Commencement and transitional provisions and savings
    580Repeals
    581Citation
     

     
        Schedule 1-Abbreviations and defined expressions
        Part 1-Abbreviations
        Part 2-Defined expressions
        Schedule 2-Consequential amendments
        Schedule 3-Transitionals and savings
        Part 1-Continuity of the law
        Part 2-Changes in the law
        Part 3-General
        Part 4-Plant and machinery allowances
        Part 5-Industrial buildings allowances
        Part 6-Agricultural buildings allowances
        Part 7-Mineral extraction allowances
        Part 8-Research and development allowances
        Part 9-Patent allowances
        Part 10-Dredging allowances
        Part 11-Contributions
        Part 12-Supplemental
        Part 13-Other enactments
        Schedule 4-Repeals
     


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    Due to the introduction of the Anti Money Laundering Regulations 2007 it is now a legal requirement that all trusts and company service providers are MLR registered. Coddan CPM Limited has been granted an MLR Registration Number 12298927. This means that we have passed the fit and proper test and successfully applied for and received confirmation from HM Customs and Excise. Please be aware that any formation agent operating without being MLR registered is not complying with the Law. We would strongly advise you to ask for an MLR number prior to processing a formation through any agent.

    In the event of Companies House rejecting an application or submission you will have three days to re-submit the application with appropriate corrections at no extra charge. We reserve the right to cancel the contract between us if one or more of the goods or services that you ordered were listed at an incorrect price due to a typographical error or an error in the pricing information received by us from our supplier. If we do cancel your order for this reason, we will notify you by email and will credit your account with any sum deducted by us from your credit card as soon as possible but in any event within 30 days of your order. We will not be obliged to offer any additional compensation for disappointment suffered. Products are delivered using Royal Mail recorded delivery post, or e-mail (as appropriate), unless otherwise stated. Where you request an alternative method of delivery, you must meet those costs. Services are provided using reasonable skill and care. Products and services will be provided in accordance with the timescales set out in the Consumer Protection (Distance Selling) Regulations 2000 unless otherwise agreed with you. Website Last Updated: 5/23/2012