Capital Allowances Act 2001 section 65

The final chargeable period

Section 65 defines when the final chargeable period arises for each type of capital allowances pool, which determines when balancing allowances or balancing charges are calculated.

• The final chargeable period for the main pool or a special rate pool is the period in which the qualifying activity is permanently discontinued.
• For a single asset pool, the final chargeable period is the first period in which a disposal event occurs, subject to certain exceptions.
• Exceptions apply for assets partly used for non-qualifying purposes, short-life asset pools reaching their cut-off date, and single ship pools.
• For an overseas leasing class pool, the final chargeable period is the period after which no further disposal receipts can arise.