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
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Further information
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
Usefull links
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 :-****
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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.
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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: -
Expenditure connected with mineral extraction trades
159
Meaning of "mineral extraction trade" etc.
In this Chapter-
"mineral extraction trade", and
"mineral exploration and access"
have the same meaning as in Part 5 (mineral extraction allowances).
160
Expenditure treated as incurred for purposes of mineral extraction trade
For the purposes of this Part, expenditure incurred by a person-
(a) on the provision of plant or machinery for mineral exploration and access, and
(b) in connection with a mineral extraction trade carried on by him,
is to be treated as incurred for the purposes of that trade.
161
Pre-trading expenditure on mineral exploration and access
(1) This section applies if a person-
(a) incurs pre-trading expenditure on the provision of plant or machinery for the purposes of mineral exploration and access, and
(b) owns the plant or machinery on the first day of trading.
But this is subject to subsection (5).
(2) The person is to be treated for the purposes of this Part as if he had-
(a) sold the plant or machinery immediately before the first day of trading, and
(b) on that first day incurred capital expenditure on the provision of the plant or machinery for the purposes of the trade.
(3) The amount of the capital expenditure that the person is to be treated as having incurred is an amount equal to-
(a) the pre-trading expenditure, or
(b) if there has been an actual sale and re-acquisition before the first day of trading, the amount last incurred on the provision of the plant or machinery.
(4) In this section-
(a) "pre-trading expenditure" means capital expenditure incurred before the day on which a person begins to carry on a mineral extraction trade, and
(b) "the first day of trading", in relation to a person's pre-trading expenditure, means the day on which that person begins to carry on the mineral extraction trade.
(5) This section does not apply if the plant or machinery on which the pre-trading expenditure was incurred is sold, demolished, destroyed or abandoned before the first day of trading (but see section 402 (mineral extraction allowances: pre-trading expenditure on plant or machinery)).
Provisions relating to ring fence trades
162
Ring fence trade a separate qualifying activity
(1) If a person carries on a ring fence trade, it is a separate qualifying activity for the purposes of this Part.
(2) In this Chapter "ring fence trade" means activities which-
(a) fall within any of paragraphs (a) to (c) of section 492(1) of ICTA (oil extraction activities, the acquisition, enjoyment or exploitation of oil rights, etc.), and
(b) constitute a separate trade (whether as a result of section 492(1) of ICTA or otherwise).
163
Meaning of "abandonment expenditure"
(1) In sections 164 and 165 "abandonment expenditure" means expenditure which meets the requirements in subsections (2) to (4).
(2) The expenditure must have been incurred-
(a) for the purposes of, or in connection with, the closing down of an oil field or of any part of an oil field, and
(b) on the demolition of plant or machinery-
(i) which has been brought into use for the purposes of a ring fence trade, and
(ii) which is, or forms part of, an offshore installation or a submarine pipeline.
(3) The demolition of the plant or machinery must be carried out, wholly or substantially, to comply with-
(a) an abandonment programme, or
(b) any condition to which the approval of an abandonment programme is subject.
(4) The plant or machinery must not be replaced.
(5) In this section-
(a) "oil field" has the same meaning as in Part I of OTA 1975, and
(b) "abandonment programme", "offshore installation" and "submarine pipeline" have the same meaning as in Part IV of the Petroleum Act 1998 (c. 17).
164
Abandonment expenditure incurred before cessation of ring fence trade
(1) If a person carrying on a ring fence trade incurs abandonment expenditure, he may elect to have a special allowance made to him.
(2) The election-
(a) must be made by notice to the Inland Revenue no later than 2 years after the end of the chargeable period in which the abandonment expenditure is incurred, and
(b) is irrevocable.
(3) The election must specify-
(a) the abandonment expenditure to which it relates, and
(b) any amounts received for the remains of the plant or machinery in question.
(4) If a person makes an election under this section-
(a) he is entitled to a special allowance, of an amount equal to the net abandonment cost, for the chargeable period in which the abandonment expenditure is incurred, and
(b) section 26(3) (net cost of demolition added to existing pool where plant or machinery not replaced) does not apply.
(5) "The net abandonment cost" means the amount by which the abandonment expenditure to which the election relates exceeds any amounts received for the remains of the plant or machinery.
165
Abandonment expenditure within 3 years of ceasing ring fence trade
(1) This section applies if-
(a) a person ("the former trader") has ceased to carry on a ring fence trade,
(b) the former trader incurs abandonment expenditure on the demolition of plant or machinery within the post-cessation period, and
(c) the abandonment expenditure is not otherwise deductible in calculating the income of the former trader for any tax purpose.
(2) "The post-cessation period" means the period of 3 years immediately following the last day on which the former trader carried on the ring fence trade.
(3) If this section applies-
(a) an amount equal to the relevant abandonment cost is allocated to the appropriate pool for the chargeable period in which the former trader ceased to carry on the ring fence trade, and
(b) any amount received within the post-cessation period for the remains of the plant or machinery does not constitute income of the former trader for any tax purpose.
(4) In subsection (3)-
"the appropriate pool" means the pool to which the expenditure on the demolished plant or machinery has been allocated, and
"the relevant abandonment cost" means the amount by which the abandonment expenditure exceeds any amounts received within the post-cessation period for the remains of the plant or machinery.
(5) All such adjustments, by discharge or repayment of tax or otherwise, are to be made as are necessary to give effect to this section.
Transfers of interests in oil fields: anti-avoidance
166
Transfers of interests in oil fields: anti-avoidance
(1) This section applies if-
(a) there is, for the purposes of Schedule 17 to FA 1980, a transfer by a participator in an oil field of the whole or part of his interest in the field, and
(b) as part of the transfer, the old participator disposes of, and the new participator acquires-
(i) plant or machinery used, or expected to be used, in connection with the field, or
(ii) a share in such plant or machinery.
(2) The amount, if any, by which the new participator's expenditure exceeds the old participator's disposal value is to be left out of account in determining the new participator's available qualifying expenditure.
(3) In subsection (2)-
(a) "the new participator's expenditure" means the expenditure incurred by the new participator on the acquisition of the plant or machinery, and
(b) "the old participator's disposal value" means the disposal value to be brought into account by the old participator as a result of the disposal of the plant or machinery to the new participator.
(4) In this section-
(a) "oil field" and "participator" have the same meaning as in Part I of OTA 1975,
(b) "the old participator" means the participator whose interest in the oil field is wholly or partly transferred, and
(c) "the new participator" means the person to whom the interest in the oil field is transferred.
(5) Nothing in this section affects the operation of Chapter 17 (anti-avoidance).
Oil production sharing contracts
167
Oil production sharing contracts
(1) Sections 168 to 170 apply if-
(a) a person ("the contractor") is entitled to an interest in a contract made with, or with the authorised representative of, the government of a country or territory in which oil is or may be produced, and
(b) the contract provides (among other things) for any plant or machinery of a description specified in the contract which-
(i) is provided by the contractor, and
(ii) has an oil-related use under the contract,
to be transferred (immediately or later) to the government or representative.
(2) For the purposes of this section and sections 168 to 170, plant or machinery has an oil-related use if it is used-
(a) to explore for, win access to or extract oil,
(b) for the initial storage or treatment of oil, or
(c) for other purposes ancillary to the extraction of oil.
(3) In this section and sections 168 to 170 "oil" has the meaning given by section 556(3).
168
Expenditure on plant or machinery incurred by contractor
(1) This section applies if-
(a) the contractor incurs capital expenditure on the provision of plant or machinery of a description specified in the contract,
(b) the plant or machinery is to have an oil-related use under the contract, for the purposes of a trade of oil extraction carried on by the contractor,
(c) the amount of the expenditure is commensurate with the value of the contractor's interest under the contract, and
(d) the plant or machinery is transferred to the government or representative in accordance with the contract.
(2) Despite the transfer, the plant or machinery is to be treated for the purposes of this Part as owned by the contractor (and not by any other person) until-
(a) it ceases to be owned by the government or representative, or
(b) it ceases to be used, or held for use, by any person under the contract.
This is subject to section 170(2).
169
Expenditure on plant or machinery incurred by participator
(1) This section applies if-
(a) a person ("the participator") acquires an interest in the contract from-
(i) the contractor, or
(ii) another person who has acquired it (directly or indirectly) from the contractor,
(b) the participator incurs capital expenditure on the provision of plant or machinery,
(c) the plant or machinery is to have an oil-related use under the contract, for the purposes of a trade of oil extraction carried on by the participator,
(d) the amount of the expenditure is commensurate with the value of the participator's interest under the contract, and
(e) the plant or machinery is transferred to the government or representative in accordance with the contract.
(2) Despite the transfer, the plant or machinery is to be treated for the purposes of this Part as owned by the participator (and not by any other person) until-
(a) it ceases to be owned by the government or representative, or
(b) it ceases to be used, or held for use, by any person under the contract.
This is subject to section 170(2).
170
Participator's expenditure attributable to plant or machinery
(1) This section applies if-
(a) a person ("the relevant participator") acquires an interest in the contract from-
(i) the contractor, or
(ii) another person who has acquired it (directly or indirectly) from the contractor, and
(b) some of the expenditure incurred by the relevant participator to acquire the interest in the contract is attributable to plant or machinery which-
(i) is treated by section 168 as owned by the contractor, or
(ii) is treated by section 169 or subsection (2) as owned by another person ("the other participator").
(2) The plant or machinery is to be treated for the purposes of this Part as owned by the relevant participator (and not by any other person) until-
(a) it ceases to be owned by the government or representative, or
(b) it ceases to be used, or held for use, by any person under the contract.
This is subject to a later application of this subsection.
(3) The person who, until subsection (2) applies, is treated as owning the plant or machinery is to be treated for the purposes of this Part as if he had disposed of it for a consideration equal to the relevant participator's expenditure attributable to it.
(4) The relevant participator is to be treated for the purposes of this Part as if-
(a) he had incurred capital expenditure of an amount given by subsection (5), and
(b) he owned the plant or machinery (in accordance with subsection (2)) as a result of having incurred that expenditure.
(5) The amount of that expenditure is-
(a) the amount of the relevant participator's expenditure attributable to the plant or machinery, or
(b) if less, the disposal value to be brought into account by the contractor or the other participator as a result of subsection (3).
(6) The expenditure attributable to plant or machinery for the purposes of this section is to be determined having regard to what is just and reasonable in the circumstances.
171
Disposal values on cessation of ownership
(1) This section applies if a person treated as owning plant or machinery under section 168(2), 169(2) or 170(2) ceases to be treated as owning it solely as a result of one of those provisions.
(2) If the person receives capital compensation, the disposal value to be brought into account is the amount of the compensation.
(3) If the person does not receive capital compensation, the disposal value to be brought into account is nil.
Capital Allowances Act 2001 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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