485. Capital Allowances. | Taxation Law | LexisNexis

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485. Capital allowances.

Managing the investments of a company with investment business¹ is a qualifying activity for the purposes of plant and machinery allowances².

If the qualifying activity is managing the investments of a company with investment business, such an allowance is, as far as possible, to be given effect by deducting the amount of the allowance from any income for the period of the business, and the statutory provision relating to the addition of allowances to the company's expenses of management

(13) Special Classes Of Companies And Businesses

465. Meaning of 'close company'.

466. Companies which are not close companies.

467. Listed companies which are not close companies.

468. Meaning of 'control'.

469. Meaning of 'participator'.

470. Meaning of 'loan creditor'.

471. Meaning of 'associate' and 'associated company'.

472. Expenses.

473. Charge to corporation tax in case of loans to participators.

474. Loans not charged to corporation tax.

475. Anti-avoidance provisions.

476. Loans released or written off.

477. Loans by company controlled by close company.

478. Repayments and return payments.

479. Arrangements conferring benefit on participator.

480. Imputation of chargeable profits and creditable tax of controlled foreign companies: overview.

481. Companies with investment business.

482. Management expenses and unpaid remuneration.

483. Accounting period to which management expenses are referable.

484. Claw back of relief.

485. Capital allowances.

486. Changes in ownership of a company with investment business: restrictions on relief generally.

487. Significant increase in the amount of a company's capital.

488. Change in ownership of investment company; deductions and asset transfers within group.

489. Special provision for insurance companies.

490. Application of long-term business rules to friendly societies.

491. Conversion etc of securities held as circulating capital.

492. Distributions of mutual and non-trading companies.

493. Registered societies.

494. Credit unions.

495. Co-operative housing associations.

496. Self-build societies.

497. Building society dividends and interest; corporation tax treatment.

498. Statutory bodies and privatised industries.

499. European Economic Interest Groupings.

500. Clubs and societies.

501. Existence of partnership.

502. Tax treatment of partnerships.

503. Firms with a foreign element.

504. Special provisions for computing profits and losses.

505. Arrangements for transferring relief.

506. Limited liability partnerships in general.

507. Property investment LLPs.

508. Unit trusts, open-ended investment companies, investment trusts, venture capital trusts, real estate investment trusts, securitisation companies and underwriters: overview.

509. Liability to tax.

510. Activity treated as trade, profession or vocation.

511. Payments or transfers with prescribed connection.

512. Attribution of income.

513. Returns of information.

514. Tax payments; due date, assessments and excessive payments.

515. Calculation of tax payments; general rule.

516. Calculation of tax payments; attributed income.

517. Tax liabilities and tax payments.

518. Administration of tax.

519. Apportionment of payments or transfers.

520. Tonnage tax.

521. Film production companies etc.