1. Conditions
1.1. Expenditure incurred in relevant period
1.1.1. Begins: 1 April 2021
1.1.1.1. Contract entered into before 3 March 2021: incurred on date contract entered into
1.1.2. Ends: 31 March 2023
1.2. Expenditure incurred by company
1.2.1. Not sole trader/partnership
1.3. Expenditure incurred on P&M
1.3.1. Not used / second-hand
1.4. Not special-rate expenditure
1.4.1. Separate SR allowance (50% FYA)
1.4.1.1. See In-Depth
1.5. Not excluded by CAA 2001, s. 46
1.5.1. Main exclusions
1.5.1.1. Activity discontinued
1.5.1.2. Cars
1.5.1.3. Used for leasing
1.5.1.3.1. Except for excluded lease of background P&M
1.6. Asset not for use in ring-fence trade
1.6.1. Separate 100% temporary FYA
1.6.1.1. See In-Depth
2. Disposal
2.1. Balancing charge
2.1.1. AP ends before 1 April 2023
2.1.1.1. Proceeds x 1.3
2.1.2. AP spans 1 April 2023
2.1.2.1. Proceeds x 'relevant factor'
2.1.2.1.1. Between 1 & 1.3
2.1.3. AP begins after 1 Apri 2023
2.1.3.1. Proceeds
3. Prepared by Croner-i. Links are to the Croner-i library unless stated otherwise.
4. Relief
4.1. AP ends before 1 April 2023
4.1.1. 130% FYA
4.2. AP ends after 1 April 2023
4.2.1. FYA between 100% and 130%
5. Special rules
5.1. Hire purchase
5.1.1. Additional conditions
5.1.1.1. In-Depth
5.2. Shipping
5.3. Anti-avoidance
6. Background & further information
6.1. In-Depth commentary
6.2. Announced at Budget 2021
6.2.1. Policy paper (gov.uk)
6.3. Legislated for by FA 2021, s. 9
6.3.1. Explanatory notes