Capital Allowances Act 2001 section 534

Regional development grants

Section 534, as supplemented by Schedule 3 paragraph 106, deals with the transitional treatment of older regional development grants and how they interact with the capital allowances rules.

• The capital allowances rules for regional development grants in section 534(1) are extended to cover certain older grants made under earlier legislation.
• Grants made under Part II of the Industrial Development Act 1982, where the application was made before 1 April 1988, fall within the extended scope.
• Grants made under Part I of the Industry Act 1972, or equivalent Northern Ireland grants declared by the Treasury to correspond, are also included.
• The restriction in section 534(2) does not apply where the relevant expenditure was incurred, or the grant was paid, before 10 March 1982.