3.New section 212A gives the scope of the Chapter explaining that the Chapter restricts the ways in which a plant and machinery allowance may be given effect where there has been a “qualifying change” in relation to a company (C).
4.New section 212B explains that the Chapter applies only where C carries on a trade (alone or in partnership (P) with another person or persons). It sets three further requirements and signposts the relevant sections in new Chapter 16A in relation to each requirement.
Introduction Introduction