Capital Allowances Act 2001 s 148

s 148 Exclusions: object to secure deferment

Expenditure on the provision of a ship is not expenditure on new shipping if the object, or one of the main objects, of— (a) the transaction by which the ship was provided for the purposes of a qualifying activity carried on by the person who incurred the expenditure, (b) any series of transactions of which that transaction was one, or (c) any transaction in such a series, was to secure the deferment of a balancing charge under section 135.

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