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Section 80: Main rate of writing down allowance

Finance Act 2008 · 2008 c. 9View on legislation.gov.uk

Part 3: Capital allowances

Section 56 of CAA 2001 (amount of allowances and charges) is amended as follows.

In subsection (1), for "25%" substitute ." 20% "

After that subsection insert—

In subsection (2), for "Subsection (1) is" substitute ." Subsections (1) and (1A) are "

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The amendments made by this section have effect in relation to chargeable periods—

beginning on or after the relevant date, and
beginning before, and ending on or after, the relevant date.

But in respect of a chargeable period within subsection (8)(b), they apply as if in—

section 56(1) of CAA 2001,
the provisions listed in subsection (6), and
paragraph 99(5) of Schedule 22 to FA 2000,

the references to 20% were to x%.

For the purposes of subsection (9)—

In subsection (10)—

  • BRD is the number of days in the chargeable period before the relevant date,

  • ARD is the number of days in the chargeable period on and after the relevant date, and

  • CP is the number of days in the chargeable period.

The relevant date is—

for corporation tax purposes, 1 April 2008, and
for income tax purposes, 6 April 2008.

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Reuse reviewed 21 August 2026 under Open Government Licence v3.0.