Finance Bill - continued        House of Commons

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SCHEDULE 21
 
  CAPITAL ALLOWANCES: MINOR AMENDMENTS
 
Thermal insulation of industrial buildings
     1. In section 28(2) of the Capital Allowances Act 2001 (expenditure on thermal insulation of industrial buildings), after "ordinary Schedule A business" insert "or an overseas property business".
 
 
Fixtures: purchasers of land and incoming lessees
     2. - (1) In section 181 of that Act (purchaser of land giving consideration for fixture), for subsection (2) substitute-
 
 
    "(2) Subsection (1) does not apply, and is to be treated as never having applied, if, immediately after the time of the acquisition, a person has a prior right in relation to the fixture.".
 
      (2) In section 181(3) of that Act-
 
 
    (a) for "subsection (2)(b), the person holding the other interest" substitute "subsection (2), a person"; and
 
    (b) for "subsection (2)(a)" substitute "subsection (2)".
      (3) In section 182 of that Act (purchaser of land discharging obligations of equipment lessee), for subsections (2) and (3) substitute-
 
 
    "(2) Subsection (1) does not apply, and is to be treated as never having applied, if, immediately after the time of the acquisition, a person has a prior right in relation to the fixture.
 
      (3) Section 181(3) (test for whether person has a prior right) applies for the purposes of subsection (2).".
 
      (4) In section 184 of that Act (incoming lessee where lessor not entitled to allowances), for subsections (2) and (3) substitute-
 
 
    "(2) Subsection (1) does not apply, and is to be treated as never having applied, if, immediately after the time when the lease is granted, a person has a prior right in relation to the fixture.
 
      (3) Section 181(3) (test for whether person has a prior right) applies for the purposes of subsection (2).".
 
 
Meaning of "sale and finance leaseback"
     3. In section 221(1) of that Act (meaning of "sale and finance leaseback"), in paragraph (b)(iii), for "any person" substitute "S or by a person (other than B) who is connected with S".
 
 
Effect of partnership changes
     4. - (1) In section 263 of that Act (effect of partnership changes for the purpose of plant and machinery allowances), in subsection (1), for paragraph (c) substitute-
 
 
    "(c) the change does not result in the qualifying activity being treated as permanently discontinued under section 113(1) or 337(1) of ICTA (changes in persons carrying on a trade etc. and effect of company ceasing to trade etc.).".
      (2) In section 558 of that Act (effect of partnership changes for the purpose of other allowances), in subsection (1), for paragraph (c) substitute-
 
 
    "(c) the change does not result in the relevant activity being treated as permanently discontinued under section 113(1) or 337(1) of ICTA (changes in persons carrying on a trade etc. and effect of company ceasing to trade etc.).".
 
Enterprise zones
     5. In section 298(3) of that Act (meaning of "enterprise zone"), after "Secretary of State" insert ", the Scottish Ministers or the National Assembly for Wales,".
 
 
Highway concessions
     6. - (1) In section 341(4) of that Act (meaning of "highway concession") for "the Secretary of State or from the Department for Regional Development in Northern Ireland" substitute "the relevant authority".
 
      (2) After that subsection add-
 
 
    "(5) In subsection (4) "the relevant authority" means-
 
 
    (a) the Secretary of State,
 
    (b) the Scottish Ministers,
 
    (c) the National Assembly for Wales, or
 
    (d) the Department for Regional Development in Northern Ireland.".
 
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