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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Capital Allowances (Corresponding Northern Ireland Grants) Order 1987 No. 362 URL: http://www.bailii.org/uk/legis/num_reg/1987/uksi_1987362_en.html |
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Statutory Instruments
INCOME TAX
Made
4th March 1987
Laid before the House of Commons
9th March 1987
Coming into force
1st April 1987
The Treasury, in exercise of the powers conferred on them by sections 84(1) and 95(6) of the Capital Allowances Act 1968(1), hereby make the following Order:
1. This Order may be cited as the Capital Allowances (Corresponding Northern Ireland Grants) Order 1987 and shall come into force on 1st April 1987.
2. The following grants, so far as they are made towards capital expenditure, are hereby declared to correspond to a grant made under Part II of the Industrial Development Act 1982(2)-
(a)any grant made under Part III of the Industrial Development (Northern Ireland) Order 1982(3) being a grant at a rate not exceeding 45 per cent. of the expenditure, and being a grant made under an agreement entered into before 1st April 1989,
(b)any grant made by the Local Enterprise Development Unit out of moneys granted under Article 30 of the Industrial Development (Northern Ireland) Order 1982, being a grant at a rate not exceeding 45 per cent. of the expenditure and being a grant made under an agreement entered into before 1st April 1989,
(c)so much of any grant so made at a higher rate as is equal to 45 per cent. of the expenditure.
Michael Neubert,
Tim Sainsbury
Two of the Lords Commissioners of Her Majesty`s Treasury
4th March 1987
(This note is not part of the Order)
This Order, succeeding the Capital Allowances (Corresponding Northern Ireland Grants) Order 1986 (S.I. 1986/539), specifies certain grants payable in Northern Ireland under the Industrial Development (Northern Ireland) Order 1982 as corresponding to grants payable in Great Britain under Part II of the Industrial Development Act 1982 (as substituted by Part I of Schedule 1 to the Co-operative Development Agency and Industrial Development Act 1984) so that the amounts of the specified grants are not deducted from the recipient`s capital expenditure when his capital allowances are calculated.
1968 c. 3; sections 84(1) and 95(6) were amended by section 67(3) of the Finance Act 1972 (c. 41) and by section 19(1) of, and Part II, paragraph 4 of Schedule 2 to, the Industrial Development Act 1982 (c. 52).
1982 c. 52; a new Part II was substituted by section 5(1) of, and Part I of Schedule 1 to, the Co-operative Development Agency and Industrial Development Act 1984 (c. 57) with effect from 29th November 1984 (S.I. 1984/1845).
S.I. 1982/1083 (N.I. 15).
