Schedule 2, Part I, paragraph 9(2)

For the purposes of Chapter I of Part II of the Capital Allowances Act 1990 (capital allowance in respect of machinery and plant) property which is vested in a company by virtue of a transfer scheme shall be treated as if— it had been acquired by the company on the transfer date for the purposes for which it is used by the company on and after that date; and capital expenditure of an amount equal to the price which the property would have fetched if sold in the open market had been incurred on that date by the company on the acquisition of the property for the purposes mentioned in paragraph (a) above.

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Source: legislation.gov.uk · retrieved 2026-07-30