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Amendment of section 289 (calculation of balancing allowances and balancing charges in certain cases) of Principal Act.
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47.—(1) Section 289 of the Principal Act is amended—
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(a) in subsection (6) by substituting “Subject to subsection (6A), where in a case within subsection (5)” for “Where in a case within subsection (5)”, and
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(b) by inserting the following after subsection (6):
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“(6A) (a) Subsection (6) shall only apply in a case where the donor or seller is connected with the recipient or purchaser.
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(b) Notwithstanding paragraph (a), subsection (6) shall not apply in any case where the donor or seller is not a company and the recipient or purchaser is a company.”.
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(2) This section shall apply as respects a gift or sale of machinery or plant on or after 6 February 2003.
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