Finance Act, 1998
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Capital allowances for, and deduction in respect of, vehicles. |
29.—Part 11 of the Principal Act is hereby amended— | |
(a) in subsection (2) of section 373 — | ||
(i) in paragraph (i), by the substitution of “mechanically propelled vehicle;” for “mechanically propelled vehicle.”, and | ||
(ii) by the insertion of the following after paragraph (i): | ||
“(j) £15,500, where the expenditure was incurred on or after the 3rd day of December, 1997, on the provision or hiring of a vehicle which, on or after that date was not a used or secondhand vehicle and was first registered in the State under section 131 of the Finance Act, 1992 , without having been previously registered in any other state which duly provides for the registration of a mechanically propelled vehicle.”, | ||
and | ||
(b) in subsection (1) of section 376, by the substitution of the following for the definition of “relevant amount”: | ||
“‘relevant amount’ means— | ||
(a) in relation to qualifying expenditure incurred before the 23rd day of January, 1997, £14,000, | ||
(b) in relation to qualifying expenditure incurred on or after the 23rd day of January, 1997, and before the 3rd day of December, 1997, £15,000, and | ||
(c) in relation to qualifying expenditure incurred on or after the 3rd day of December, 1997, £15,500;”. |