Capital Allowances Act 2001 section 268E

Meaning of "assigns"

Section 268E defines what it means to "assign" the benefit of a contract or rights under a contract for the purposes of the structures and buildings allowances rules.

• An assignment occurs whenever one person ceases to be entitled to the benefit or rights under a contract and another person becomes entitled to them instead.
• The definition is deliberately broad, covering assignment, novation, variation or replacement of the contract, transfer by operation of law, or any other mechanism that achieves the same result.
• References to an assignment throughout the structures and buildings allowances provisions should be read in line with this wide definition.
• The concept extends to partial transfers — a reference to the benefit of a contract or rights under a contract includes part of that benefit or part of those rights.