1. Relief
1.1. AP ends before 1 April 2023
1.1.1. 130% FYA
1.2. AP ends after 1 April 2023
1.2.1. FYA between 100% and 130%
2. Special rules
2.1. Hire purchase
2.1.1. Additional conditions
2.1.1.1. In-Depth
2.2. Shipping
2.3. Anti-avoidance
3. Conditions
3.1. Expenditure incurred in relevant period
3.1.1. Begins: 1 April 2021
3.1.1.1. Contract entered into before 3 March 2021: incurred on date contract entered into
3.1.2. Ends: 31 March 2023
3.2. Expenditure incurred by company
3.2.1. Not sole trader/partnership
3.3. Expenditure incurred on P&M
3.3.1. Not used / second-hand
3.4. Not special-rate expenditure
3.4.1. Separate SR allowance (50% FYA)
3.4.1.1. See In-Depth
3.5. Not excluded by CAA 2001, s. 46
3.5.1. Main exclusions
3.5.1.1. Activity discontinued
3.5.1.2. Cars
3.5.1.3. Used for leasing
3.5.1.3.1. Except for excluded lease of background P&M
3.6. Asset not for use in ring-fence trade
3.6.1. Separate 100% temporary FYA
3.6.1.1. See In-Depth
4. Disposal
4.1. Balancing charge
4.1.1. AP ends before 1 April 2023
4.1.1.1. Proceeds x 1.3
4.1.2. AP spans 1 April 2023
4.1.2.1. Proceeds x 'relevant factor'
4.1.2.1.1. Between 1 & 1.3
4.1.3. AP begins after 1 Apri 2023
4.1.3.1. Proceeds
5. Background & further information
5.1. In-Depth commentary
5.2. Announced at Budget 2021
5.2.1. Policy paper (gov.uk)
5.3. Legislated for by FA 2021, s. 9
5.3.1. Explanatory notes