Section 114 | Capital allowances for freeport tax sites

(1)Schedule 22 makes provision about capital allowances for expenditure incurred in connection with freeport tax sites.

(2)In that Schedule —

(a)Part 1 provides for a first-year allowance under Part 2 of CAA 2001 (plant and machinery allowances),

(b)Part 2 provides for a different rate of allowance under Part 2A of CAA 2001 (structures and buildings allowances), and

(c)Part 3 contains related amendments.