Citation 2001 c. 2 Royal assent 22 March 2001 | Territorial extent United Kingdom | |
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Long title An Act to restate, with minor changes, certain enactments relating to capital allowances. Commencement chargeable periods ending on or after 6 April 2001 (income tax)chargeable periods ending on or after 1 April 2001 (corporation tax) |
The Capital Allowances Act 2001 is an Act of the Parliament of the United Kingdom that governs how capital allowances are deducted from income taxable under the Income Tax Act 2007 and the Corporation Tax Act 2009.
Types of allowances
Capital allowances fall under several categories:
Under the Act, they are available for specified types of claims:
References
Capital Allowances Act 2001 Wikipedia(Text) CC BY-SA