| Finance Act 2005 |
| 2005 Chapter 7 - continued |
| SCHEDULE 6, CAPITAL ALLOWANCES: RENOVATION OF BUSINESS PREMISES IN DISADVANTAGED AREAS - continued |
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| back to previous text |
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| | PART 2 |
| | CONSEQUENTIAL AMENDMENTS |
| 2 | In section 1(2) of CAA 2001 (capital allowances provided for by Act), after paragraph (b) insert-
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| |  | "(ba) Part 3A (business premises renovation allowances)". |
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| 3 | In section 2(3) of CAA 2001 (provisions about giving effect to allowances and charges), after the entry in the list for sections 352 to 355 of that Act insert-
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| | | "sections 360Z and 360Z1 (business premises renovation allowances)". |
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| 4 | In section 3 of CAA 2001 (claims for capital allowances) after subsection (2) insert-
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| | | "(2A) Any claim for an allowance under Part 3A (business premises renovation allowances) must be separately identified as such in the return."
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| 5 | In section 537(1) of CAA 2001 (general conditions for making contribution allowances under Parts 2 to 4 and 5), and in the section heading and the cross-heading preceding that section, for "Parts 2 to 4 and 5" substitute "Parts 2, 3, 4 and 5".
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| 6 | In section 546 of CAA 2001 (interpretation of VAT provisions), before the "and" at the end of paragraph (b) insert-
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| | | "(ba) Chapter 10 of Part 3A (business premises renovation allowances: additional VAT liabilities and rebates),". |
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| 7 | In section 567(1) of CAA 2001 (Parts of Act for purposes of which provisions about sales not at market value apply), after "3," insert "3A,".
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| 8 | In section 570(1) of CAA 2001 (elections under section 569 of that Act: supplementary), after "Part" insert "3A,".
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| 9 | In section 570A(1) of CAA 2001 (avoidance affecting proceeds of balancing event), after "3," insert ", 3A".
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| 10 | In section 573(1) of CAA 2001 (transfers treated as sales), after "3," insert "3A,".
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| 11 | (1) Part 2 of Schedule 1 to CAA 2001 (list of defined expressions) is amended as follows.
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| | (2) Insert the following entries in the appropriate places-
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"balancing adjustment (in Part 3A) |
section 360M" |
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"balancing event (in Part 3A) |
section 360N" |
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"lease and related expressions (in Part 3A) |
section 360Z4" |
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"proceeds from a balancing event (in Part 3A) |
section 360O" |
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"qualifying building (in Part 3A) |
section 360C" |
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"qualifying business premises (in Part 3A) |
section 360D" |
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"qualifying expenditure (in Part 3A) |
section 360B" |
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"relevant interest (in Part 3A) |
Chapter 4 of Part 3A" |
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"residue of qualifying expenditure (in Part 3A) |
section 360K" |
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| | (3) In the entry for "sale, transfers under Parts 3, 4, 4A and 10 treated as", after "3" insert ", 3A".
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