Source: http://www.legislation.gov.uk/ukpga/2005/14/schedule/10/paragraph/14/prospective
Timestamp: 2013-05-24 03:24:01
Document Index: 565204763

Matched Legal Cases: ['art. 2', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 3', 'art 2']

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Capital allowances: transfer of plant or machinerySection 14Table of ContentsContentExplanatory NotesMore ResourcesPrevious: ParagraphNext: ParagraphPlain ViewPrint Options
Status:Point in time view latest with prospective.This version of this cross heading contains provisions that are prospective.StatusThe term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section. A version of a provision is prospective either: where the provision (Part, has never come into force or; where the text of the provision is subject to change, but no date has yet been appointed by the appropriate person or body for those changes to come into force. Commencement Orders listed in the ‘Changes to Legislation’ box as not yet applied may bring this prospective version into force.Changes to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to Railways Act 2005. Any changes that have already been made by the team appear in the content and are referenced with annotations.Changes to LegislationChanges and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.Changes and effects yet to be applied to :Changes and effectsThis section lists the changes and effects yet to be applied to the specific provision you are viewing.specified provision(s) Appointed Day(s) by S.I. 2006/1951 art. 2Changes and effects yet to be applied to the whole Act, associated Parts and Chapters:Changes and effectsThis section lists the changes and effects yet to be applied to the whole Act, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing.Blanket amendment words substituted by S.I. 2011/1043 art. 3 6Whole provisions yet to be inserted into this Act (including any effects on those provisions):s. 19A inserted by 2008 c. 26 s. 74s. 19A text amended by S.I. 2010/439 Sch. para. 9(4)(a)s. 19A heading text amended by S.I. 2010/439 Sch. para. 9(4)(b)Commencement Orders yet to be applied to the Railways Act 2005:Commencement OrdersThis section lists the commencement orders yet to be applied to the whole Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing. Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Act you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing. If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.Commencement Orders bringing provisions within this Act into force:S.I. 2005/1444 art. 2 commences (2005 c. 14)S.I. 2005/1909 art. 2 commences (2005 c. 14)S.I. 2005/2252 art. 2 commences (2005 c. 14)S.I. 2005/2812 art. 2 Sch. 1 2 commences (2005 c. 14)S.I. 2006/266 art. 2 commences (2005 c. 14)S.I. 2006/2911 art. 2 Sch. commences (2005 c. 14)S.I. 2007/62 art. 2 commences (2005 c. 14)S.I. 2007/1993 art. 2 commences (2005 c. 14)Commencement Orders bringing legislation that affects this Act into force:S.I. 2008/113 art. 2 commences (2007 c. 24)S.I. 2009/107 art. 2-5 Sch. 1-5 Commencement OrderS.I. 2009/3318 art. 2-4 commences (2009 c. 20)S.I. 2011/2329 art. 3 commences (2011 c. 5)This section has no associated Explanatory Notes14(1)This paragraph applies where—E+W+S(a)there is a relevant transfer of plant or machinery;(b)paragraph 12 does not apply in relation to that transfer;(c)the plant or machinery would be treated for the purposes of the 2001 Act as disposed of by the transferor to the transferee on the transfer taking effect; and(d)the scheme in accordance with which the transfer is made contains provision for the disposal value of the plant or machinery to be treated for the purposes of that Act as an amount specified in or determined in accordance with the scheme.(2)For the purposes of the 2001 Act—(a)the provision mentioned in sub-paragraph (1)(d) is to have effect (instead of section 61(2) to (4), 72(3) to (5), 88, 171, 196 or 423 of that Act) for determining an amount as the disposal value of the plant or machinery or the price at which a fixture is to be treated as sold;(b)the transferee is to be treated as having incurred capital expenditure of that amount on the provision of the plant or machinery for the purposes for which it is used by the transferee on and after the taking effect of the transfer;(c)the property is to be treated as belonging to the transferee in consequence of the transferee having incurred that expenditure; and(d)in the case of a fixture, the expenditure which falls to be treated as incurred by the transferee is to be treated for the purposes of sections 181(1) and 182(1) of that Act to be incurred by the giving of a consideration consisting in a capital sum of that amount.(3)The provision mentioned in sub-paragraph (1)(d) for the determination of an amount may include provision for a determination—(a)to be made by the Secretary of State in a manner described in the scheme;(b)to be made by reference to factors so described or to the opinion of a person so described; and(c)to be capable of being modified (on one or more occasions) in a manner and in circumstances so described.(4)The consent of the Treasury is required for the making or modification of a determination under the provision mentioned in sub-paragraph (1)(d).(5)The consent of the transferee is required for the modification of a determination under the provision mentioned in sub-paragraph (1)(d).(6)If there is a determination or a modification of a determination under the provision mentioned in sub-paragraph (1)(d), all necessary adjustments—(a)must be made by making assessments or by repayment or discharge of tax; and(b)must be made despite any limitation on the time within which assessments may be made.(7)Expressions used in this paragraph and in Part 2 of the 2001 Act have the same meanings in this paragraph as in that Part.Previous: ParagraphNext: ParagraphBack to topOptions/HelpPrint OptionsPrint The Whole ActPDF The Whole ActWeb page The Whole ActPrint The Whole SchedulePDF The Whole ScheduleWeb page The Whole SchedulePrint The Whole PartPDF The Whole PartWeb page The Whole PartPrint The Whole Cross HeadingPDF The Whole Cross HeadingWeb page The Whole Cross HeadingPrint This Section onlyPDF This Section onlyWeb page This Section onlyYou have chosen to open The Whole ActThe Whole Act you have selected contains over 200 provisions and might take some time to download. 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