Section 51E | Fourth restriction: other companies under common control ^F1

(1)This section applies in relation to two or more companies which in a financial year are—^F1

(a)controlled by the same person (see section 51F), and^F1

(b)related to one another (see section 51G),^F1

and in relation to which to neither section 51C nor section 51D applies.

(2)The companies are entitled to a single annual investment allowance between them in respect of the relevant AIA qualifying expenditure.^F1

(3)The companies may allocate the annual investment allowance to the relevant AIA qualifying expenditure as they think fit.^F1

(4)The relevant AIA qualifying expenditure is the AIA qualifying expenditure incurred by the companies in chargeable periods ending in the financial year mentioned in subsection (1).^F1