Section 7 | Temporary increase in annual investment allowance

(1)In relation to expenditure incurred during the period beginning with 1 January 2013 and ending with the specified date , section 51A of CAA 2001 (entitlement to annual investment allowance) has effect as if in subsection (5) for “£25,000” there were substituted “ £250,000 ”.^F1

(1A)The specified date is —^F2

(a)for the purposes of corporation tax, 31 March 2014, and^F2

(b)for the purposes of income tax, 5 April 2014.^F2

(2)Schedule 1 contains provision about chargeable periods which straddle 1 January 2013 ....^F3