Finance Act, 2000

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Capital allowances for, and deduction in respect of, vehicles.

35.—Part 11 of the Principal Act is amended—

(a) in subsection (2) of section 373—

(i) in paragraph (k), by the substitution of “mechanically propelled vehicle;” for “mechanically propelled vehicle.”, and

(ii) by the insertion of the following after paragraph (k):

“(l) £16,500, where the expenditure was incurred on or after 1 December 1999 on the provision or hiring of a vehicle which, on or after that date was not a used or secondhand vehicle and was first registered in the State under section 131 of the Finance Act, 1992 , without having been previously registered in any other state which duly provides for the registration of a mechanically propelled vehicle.”,

and

(b) in subsection (1) of section 376, in the definition of “relevant amount”—

(i) in paragraph (c), by the substitution of “£15,500”, for “£15,500, and”, and

(ii) by the substitution of the following for paragraph (d):

“(d) in relation to qualifying expenditure incurred on or after 2 December 1998 and before 1 December 1999, £16,000,” and

(iii) by the insertion of the following after paragraph (d):

“(e) in relation to qualifying expenditure incurred on or after 1 December 1999, £16,500;”.