The Capital Allowances (Environmentally Beneficial Plant and Machinery) (Amendment) Order 2014

Made: 16th July 2014

Laid before the House of Commons: 17th July 2014

Coming into force: 7th August 2014

The Treasury make the following Order in exercise of the powers conferred by sections 45H(3) to (5) of the Capital Allowances Act 2001[^f00001].

Citation and commencement

1

This Order may be cited as the Capital Allowances (Environmentally Beneficial Plant and Machinery) (Amendment) Order 2014 and comes into force on 7th August 2014.

Amendment of the Capital Allowances (Environmentally Beneficial Plant and Machinery) Order 2003

2

The Capital Allowances (Environmentally Beneficial Plant and Machinery) Order 2003[^f00002] is amended as follows.

3

In article 2 (interpretation) in the definitions of “the Water Technology Criteria List” and “the Water Technology Product List”—

• (a) for “23 June 2013” substitute “1 July 2014” in both places; and

• (b) for “1 July 2013” substitute “2 July 2014” in both places.

Signed

David Evennett — Anne Milton — Two of the Lords Commissioners for Her Majesty’s Treasury — 16th July 2014

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order amends the Capital Allowances (Environmentally Beneficial Plant and Machinery) Order 2003 (S.I. 2003/2076) (the “Principal Order”). The Principal Order implemented legislation to introduce a scheme for 100% first-year allowances to encourage businesses to invest in environmentally beneficial plant and machinery (as defined by section 45H of the Capital Allowances Act 2001 (c. 2)).

Section 45H enables the Treasury to specify qualifying plant and machinery by order by reference to a description or criteria given by the Secretary of State in a technology or product list. The Secretary of State for Environment, Food and Rural Affairs has issued the Water Technology Criteria List and Water Technology Product List. These lists have been revised and replaced by new lists dated 1 July 2014 and issued on 2 July 2014.

Article 3 amends the definitions of the “Water Technology Criteria List” and the “Water Technology Product List” to refer to the new lists, which are available at https://www.gov.uk/government/publications/water-efficient-enhanced-capital-allowances.

A Tax Information and Impact Note covering this instrument was published on 19 March 2014 alongside Budget 2014 and is available 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.

Footnotes

[^f00001]: 2001 c. 2; section 45H was inserted by paragraph 3 of Schedule 30 to the Finance Act 2003 (c. 14).

[^f00002]: S.I. 2003/2076, amended by S.I. 2013/1762; there are other amending instruments but none is relevant.