Citation and commencement

1.  This Order may be cited as the Capital Allowances Act 2001 (Extension of First-year Allowances) (Amendment) Order 2017 and comes into force on 1st April 2018.

Amendment of the Capital Allowances Act 2001

2.  The Capital Allowances Act 2001 is amended as follows-

(a)in section 45DA(1)(a) for "8 years" substitute "11 years", and

(b)in section 45E(1)(a) for "2018" substitute "2021".

EXPLANATORY NOTE

(This note is not part of the Order)

This Order amends sections 45DA and 45E of the Capital Allowances Act 2001 (c. 2). These sections set out the conditions to be met to qualify for 100% first-year allowances on expenditure in respect of zero-emission goods vehicles (section 45DA) and plant and machinery for gas refuelling stations (section 45E).

Article 2(a) extends the relief for zero-emission goods vehicles for a further three years to 31st March 2021 for expenditure incurred by a person within the charge to corporation tax and to 5th April 2021 for expenditure incurred by a person within the charge to income tax.

Article 2(b) extends the relief for plant and machinery for gas refuelling stations for a further three years to 31st March 2021.

A Tax Information and Impact Note covering this instrument was published on 22 November 2017 alongside the Autumn Budget 2017 and is available on the website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins. It remains an accurate summary of the impacts that apply to this instrument.