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40 Capital Allowances (Expenditure On Software For Sub-Licensing)

Volume 403: debated on Monday 14 April 2003

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Resolved,

That—

(1) In subsection (1) of section 45 of the Capital Allowances Act 2001, at the end of paragraph (d) there shall be inserted "or subsection (4) below".

(2) After subsection (3) of that section there shall be inserted—

"(4) Expenditure on an item within Class C is not first-year qualifying expenditure under this section if the person incurring it does so with a view to granting to another person a right to use or otherwise deal with any of the software in question.".

(3) This Resolution shall apply in relation to expenditure incurred on or after 26th March 2003.

And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.