Capital Allowances Act 2001 sections 113–117

Other enactments

Sections 113–117 preserve various transitional rules affecting car hire expenditure limits, repeals under earlier capital allowances legislation, and the tax treatment of expenditure on films, tapes and discs.

• For car hire contracts entered into before 11 March 1992, the relevant expenditure threshold is reduced from £12,000 to £8,000, and rebate provisions do not apply to transactions before 29 April 1996.
• Repeals made by the Capital Allowances Act 1990 do not affect capital expenditure that was not eligible under section 39 of the Finance Act 1976 and was incurred in a chargeable period ending before 6 April 1976.
• Expenditure on the production of a film completed before 21 March 2000 (or where principal photography began before that date), or on acquiring a film, tape or disc before 6 April 2000, is treated as revenue rather than capital unless an irrevocable election is made to treat it as capital.
• For films, tapes or discs completed before 10 March 1992, the election provisions are simplified by removing several of the conditions and procedural requirements.