Introduction
1.These explanatory notes relate to the Capital Allowances Act 2001 which received Royal Assent on 22nd March 2001. They have been prepared by the Tax Law Rewrite Project at the Inland Revenue in order to assist readers of this Act and to help inform debate on it. They do not form part of the Act and have not been endorsed by Parliament.
2.The notes need to be read in conjunction with the Act. They are not, and are not meant to be, a comprehensive description of the Act. So if a section or part of a section does not seem to require explanation or comment, none is given.