Clause 9 - Super-deductions and other temporary first-year allowances

Part of Finance Bill – in the House of Commons at 7:15 pm on 24 May 2021.

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The House divided: Ayes 268, Noes 357.

Question accordingly negatived.

The list of Members currently certified as eligible for a proxy vote, and of the Members nominated as their proxy, is published at the end of today’s debates.

Amendment made: 2, page 5, line 9, at end insert—

“(8A) General exclusion 6 in section 46(2) of CAA 2001 (expenditure on provision of plant or machinery for leasing) does not prevent expenditure being super-deduction expenditure or SR allowance expenditure if the plant or machinery is provided for leasing under an excluded lease of background plant or machinery for a building (as defined by section 70R of that Act).”—(Scott Mann.)

This amendment will enable background plant and machinery in leased property to qualify for a super-deduction or an SR allowance.