Section 63 | First-year allowances for expenditure wholly for a ring fence trade

(1)Schedule 21 to this Act shall have effect.

(2)In that Schedule—

(a)Part 1 makes provision for and in connection with first-year allowances under Part 2 of the Capital Allowances Act 2001 in respect of expenditure incurred by a company on the provision of plant or machinery for use wholly for the purposes of a ring fence trade chargeable to tax under section 330(1) of the Corporation Tax Act 2010; and^F1

(b)Part 2 makes provision for and in connection with first-year allowances under Part 5 of that Act (mineral extraction allowances) in respect of expenditure incurred by a company wholly for the purposes of such a trade.

(3)The amendments made by that Schedule have effect in relation to expenditure incurred on or after 17th April 2002.