Section 51B First restriction: companies
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Amendments
Section 51B inserted by Finance Act 2008 section 74 and Schedule 24 para 3 in relation to expenditure incurred on or after 1 April 2008 (for corporation tax purposes), and 6 April 2008 (for income tax purposes).
(1) A company is entitled to a single annual investment allowance in respect of all the qualifying activities carried on by the company in a chargeable period.
(2) The company may allocate the annual investment allowance to the relevant AIA qualifying expenditure as it thinks fit.
(3) The relevant AIA qualifying expenditure is the AIA qualifying expenditure incurred by the company in the chargeable period mentioned in subsection (1).
(4) This section is subject to section 51C, 51D and 51E.
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