Finance Act, 1992
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Capital allowances for, and deduction in respect of, vehicles. |
21.—(1) (a) Sections 25 to 29 of the Finance Act, 1973 , shall have effect, in relation to expenditure incurred on the provision or hiring of a vehicle to which those sections apply, as if for “£2,500”, in each place where it occurs in those sections, there were substituted “£10,000”. | |
(b) The reference in paragraph (a) to expenditure incurred on the provision or hiring of a vehicle does not include— | ||
(i) as respects the said sections 25 to 27, a reference to expenditure incurred before the 30th day of January, 1992, or incurred within 12 months after that day under a contract entered into before that day, and | ||
(ii) as respects subsections (2) and (3) of the said section 28 and the said section 29, a reference to expenditure under a contract entered into before the said 30th day of January, 1992. | ||
(2) Section 32 of the Finance Act, 1976 , shall have effect, in relation to qualifying expenditure (within the meaning of that section) incurred after the 29th day of January, 1992, as if for “£3,500”, in each place where it occurs, there were substituted “£10,000”. |