BAILII is celebrating 24 years of free online access to the law! Would you
consider making a contribution?
No donation is too small. If every visitor before 31 December gives just £1, it
will have a significant impact on BAILII's ability to continue providing free
access to the law.
Thank you very much for your support!
[New search]
[Help]
STATUTORY INSTRUMENTS
2001 No. 810
INCOME TAX
The Capital Allowances (Corresponding Northern Ireland Grants) Order 2001
| |
Made |
7th March 2001 | |
| |
Laid before the House of Commons |
8th March 2001 | |
| |
Coming into force |
1st April 2001 | |
The Treasury, in exercise of the powers conferred on them by section 153(1) of the Capital Allowances Act 1990[1] and paragraph 3(4) of Schedule 12 to the Northern Ireland Act 1998[2], hereby make the following Order:
1.
This Order may be cited as the Capital Allowances (Corresponding Northern Ireland Grants) Order 2001 and shall come into force on 1st April 2001.
2.
The following grants, so far as they are made towards capital expenditure, are hereby declared to correspond to a grant made under Part II of the Industrial Development Act 1982[3] -
(a) any grant made under Part III of the Industrial Development (Northern Ireland) Order 1982[4], being a grant at a rate not exceeding 45 per cent. of the expenditure and being a grant made under an agreement entered into before 1st April 2003,
(b) any grant made by the Local Enterprise Development Unit out of moneys granted under article 30 of the Industrial Development (Northern Ireland) Order 1982, being a grant at a rate not exceeding 45 per cent. of the expenditure and being a grant made under an agreement entered into before 1st April 2003,
(c) so much of any grant so made at a higher rate as is equal to 45 per cent. of the expenditure.
Jim Dowd
Greg Pope
Two of the Lords Commissioners of Her Majesty's Treasury
7th March 2001
EXPLANATORY NOTE
(This note is not part of the Order)
This Order specifies certain grants made in Northern Ireland under the Industrial Development (Northern Ireland) Order 1982 as corresponding to grants made in Great Britain under Part II of the Industrial Development Act 1982 and is in succession to the Capital Allowances (Corresponding Northern Ireland Grants) Order 1999 (S.I. 1999/719), which applies to grants made under agreements entered into before 1st April 2001. The effect of the Order is that the amounts of the specified grants are not deducted from the recipient's capital expenditure when his capital allowances are calculated. (Grants under Part II of the Industrial Development Act 1982 are not made in Great Britain after 31st March 1988 except where application for approval of the project was received by the Secretary of State on or before 31st March 1988, see section 1 of the Regional Development Grants (Termination) Act 1988 (c. 11).)
Notes:
[1]
1990 c. 1; section 153 was amended by section 46(3)(a) of, and paragraph 4 of Schedule 7 to, the Finance Act 1998 (c. 36).back
[2]
1998 c. 47.back
[3]
1982 c. 52; a new Part II was substituted by section 5(1) of, and Part I of Schedule 1 to, the Co-operative Development Agency and Industrial Development Act 1984 (c. 57).back
[4]
S.I. 1982/1083 (N.I. 15), to which there are amendments not relevant to this Order.back
ISBN
0 11 029032 1
| © Crown copyright 2001 |
Prepared
26 March 2001
|
BAILII:
Copyright Policy |
Disclaimers |
Privacy Policy |
Feedback |
Donate to BAILII
URL: http://www.bailii.org/uk/legis/num_reg/2001/20010810.html
