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Finance Act 2001

Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.

Change 1

What to do with it
As published

59 Employees’ vehicles: withdrawal of capital allowances

(1) In Chapter 3 of Part 2 of the Capital Allowances Act 2001 (c. 2) (plant and machinery: qualifying expenditure), for section 36 (restriction on qualifying expenditure in case of employment or office) substitute— Restriction on qualifying expenditure in case of employment or office 36 (1) Where the qualifying activity consists of an employment or office— (a) expenditure on the provision of a mechanically propelled road vehicle, or a cycle, is not qualifying expenditure, and (b) other expenditure is qualifying expenditure only if the plant or machinery is necessarily provided for use in the performance of the duties of the employment or office. (2) In this section “cycle” has the meaning given by section 192(1) of the Road Traffic Act 1988. . (2) Section 80 of that Act (vehicles provided for purposes of employment or office) is repealed. (3) The above amendments apply to expenditure incurred on or after 6th April 2002. (4) Where immediately before 6th April 2002— (a) expenditure incurred by an employee on the provision of a mechanically propelled road vehicle, or a cycle, was qualifying expenditure for the purposes of Part 2 of the Capital Allowances Act 2001 (c. 2) , and (b) the employee is treated for the purposes of that Part as owning an asset as a result of that expenditure having been incurred, the employee shall be treated for the purposes of that Part of that Act as if he had ceased to own the asset at that time. (5) In subsection (4)— “employee” includes an office-holder; and “cycle” has the meaning given by section 192(1) of the Road Traffic Act 1988 (c. 52).

Your change, as a redline

59 Employees’ vehicles: withdrawal of capital allowances

(1) In Chapter 3 of Part 2 of the Capital Allowances Act 2001 (c. 2) (plant and machinery: qualifying expenditure), for section 36 (restriction on qualifying expenditure in case of employment or office) substitute— Restriction on qualifying expenditure in case of employment or office 36 (1) Where the qualifying activity consists of an employment or office— (a) expenditure on the provision of a mechanically propelled road vehicle, or a cycle, is not qualifying expenditure, and (b) other expenditure is qualifying expenditure only if the plant or machinery is necessarily provided for use in the performance of the duties of the employment or office. (2) In this section “cycle” has the meaning given by section 192(1) of the Road Traffic Act 1988. . (2) Section 80 of that Act (vehicles provided for purposes of employment or office) is repealed. (3) The above amendments apply to expenditure incurred on or after 6th April 2002. (4) Where immediately before 6th April 2002— (a) expenditure incurred by an employee on the provision of a mechanically propelled road vehicle, or a cycle, was qualifying expenditure for the purposes of Part 2 of the Capital Allowances Act 2001 (c. 2) , and (b) the employee is treated for the purposes of that Part as owning an asset as a result of that expenditure having been incurred, the employee shall be treated for the purposes of that Part of that Act as if he had ceased to own the asset at that time. (5) In subsection (4)— “employee” includes an office-holder; and “cycle” has the meaning given by section 192(1) of the Road Traffic Act 1988 (c. 52).

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