Section 217 | No annual investment allowance or first-year allowance for B’s expenditure

(1)If this section applies as a result of section 214, 215 or 216, no annual investment allowance or first-year allowance is to be made in respect of B’s expenditure under the relevant transaction.^F1

(2)Any annual investment allowance or first-year allowance which is prohibited by subsection (1), but which has already been made, is to be withdrawn.^F2

(3)This section does not apply if plant or machinery is the subject of a sale and finance leaseback (as defined in section 221).^F3