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Statutory Instruments
1999 No. 719
INCOME TAX
The Capital Allowances (Corresponding Northern Ireland Grants) Order 1999
Made
10th March 1999
Laid before the House of Commons
10th March 1999
Coming into force
1st April 1999
The Treasury, in exercise of the powers conferred on them by section 153(1) of the Capital Allowances Act 1990(1), hereby make the following Order:
1. This Order may be cited as the Capital Allowances (Corresponding Northern Ireland Grants) Order 1999 and shall come into force on 1st April 1999.
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 2001,
(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 2001,
(c)so much of any grant so made at a higher rate as is equal to 45 per cent. of the expenditure.
Jane Kennedy
Jim Dowd
Two of the Lords Commissioners of Her Majesty's Treasury
10th March 1999
Explanatory Note
(This note is not part of the Order)
This Order specifies certain grants made in Northern Ireland under the Industrial Development (Northern Ireland) Order 1982 as corresponding to grants made in Great Britain under Part II of the Industrial Development Act 1982 and is in succession to the Capital Allowances (Corresponding Northern Ireland Grants) Order 1997 (S.I. 1997/660), which applies to grants made under agreements entered into before 1st April 1999. The effect of the Order is that the amounts of the specified grants are not deducted from the recipient's capital expenditure when his capital allowances are calculated. (Grants under Part II of the Industrial Development Act 1982 are not made in Great Britain after 31st March 1988 except where application for approval of the project was received by the Secretary of State on or before 31st March 1988, see section 1 of the Regional Development Grants (Termination) Act 1988 (c. 11).)
1990 c. 1; section 153 was amended by section 46(3)(a) of, and paragraph 4 of Schedule 7 to, the Finance Act 1998 (c. 36).
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).
S.I. 1982/1083 (N.I. 15), to which there are amendments not relevant to this Order.