CAPITAL ALLOWANCES. (i) All expenditures which Resources has incurred or may incur under any subsisting commitment on the provision of machinery or plant has qualified or will qualify (if not deductible as a trading expense of a trade carried on by Resources) for writing-down allowances under the CAA.
(ii) The value attributed in the Accounts to each Asset or pool of Assets is such that on a disposal of each such Asset or pool of Assets on the Balance Sheet Date for a consideration equal to such value or aggregate value no balancing charge would have arisen.
(iii) All capital expenditures incurred by Resources since the Balance Sheet Date and all capital expenditures which may be incurred by Resources under any existing contract has qualified or will be capable of qualifying for capital allowances. Such allowances have been or will be made in taxing Resources' trade.
(iv) Since the Balance Sheet Date, Resources has not done or omitted to do or agreed to do or permitted to be done any act as a result of which Resources could be required to bring a disposal value into account or suffer a balancing charge or be subject to recovery of excess relief for the purpose of capital allowances under Sections 4, 24, 87, 100 or 128 of the CAA or a withdrawal of first year allowances or a recovery of excess relief under Sections 46 or 47 of the CAA.
(v) Resources has not incurred any expenditure on the provision of any capital allowance bearing asset for leasing.
(vi) No claim for capital allowances on expenditure incurred by Resources prior to Closing on the provision of machinery or plant which at the date hereof is still leased will or may be restricted by reason of Section 61(5) of the CAA (machinery and plant on lease).
(vii) Resources has not made any election under Section 37 of the CAA (short life assets) nor is it taken to have made any such election under subsection (8)(c) thereof.
(viii) Resources has not obtained any capital allowances under Chapter VI Part II of the CAA (fixtures).
(ix) Resources is not involved in a dispute with another person as to the entitlement of capital allowances under Section 51(7) of the CAA.
CAPITAL ALLOWANCES. 16.1. This condition 16 applies where the special conditions state that there are capital allowances available in respect of the lot.
16.2. The seller is promptly to supply to the buyer all information reasonably required by the buyer in connection with the buyer’s claim for capital allowances.
16.3. The value to be attributed to those items on which capital allowances may be claimed is set out in the special conditions.
16.4. The seller and buyer agree:
00.0.0. xx make an election on completion under Section 198 of the Capital Allowances Act 2001 to give effect to this condition 16; and
00.0.0. xx submit the value specified in the special conditions to HM Revenue and Customs for the purposes of their respective capital allowance computations.
CAPITAL ALLOWANCES. If the special conditions state that there are capital allowances available in respect of the lot, the Seller must promptly supply to the Buyer all information reasonably required by the Buyer in connection with the Buyer’s claim for capital allowances. The Seller and the Buyer agree to make an election on completion under s198 of the Capital Allowances Act 2001 to give effect to the capital allowance and to submit the value specified in the special conditions to HMRC for the purposes of their respective capital allowance computations.
CAPITAL ALLOWANCES. In the last 6 years the Company has not claimed first-year tax credits within the meaning of Schedule A1 of CAA 2001, business renovation allowances under Part 3A of CAA 2001, flat conversion allowances under Part 4A of CAA 2001 or owned at the Accounts date any asset which, if disposed of at the date of this Agreement for consideration equal to its net book value as included in the Accounts, would give rise to a balancing charge or clawback of allowances in excess of £10,000.
CAPITAL ALLOWANCES. 9.10.1 No balancing charge under the CAA would be made on the Company on the disposal of any pool of assets (that is, all those assets whose expenditure is taken into account in computing whether a balancing charge would arise on a disposal of any other of those assets) or of any asset not in such a pool, on the assumption that the disposals are made for a consideration equal to the book value shown in or adopted for the purposes of the Accounts for the assets in the pool or (as the case may be) for the asset.
9.10.2 None of the assets, expenditure on which has qualified for allowances under Part 3 (Industrial Buildings Allowances) CAA has at any time since that expenditure was incurred been used otherwise than as an industrial building or structure.
9.10.3 The Disclosure Documents give full details of all disclaimers of capital allowances.
9.10.4 The Disclosure Documents give details of any long life asset expenditure which has been incurred by the Company within the meaning of Section 90 CAA).
9.10.5 The Company has not since the Balance Sheet Date done or omitted to do or agreed to do, or permitted to be done, any act as a result of which there may be made a balancing charge under the CAA or a withdrawal of first year allowances or recovery of excess relief within Chapter 11 of Part 2 CAA.
9.10.6 The Company has not made any claim for capital allowances in respect of any asset which is leased to or from or hired to or from the Company.
9.10.7 The Company has not made any election under Section 83 of the CAA (short life assets) nor is taken to have made such an election under Section 89(4) thereof.
9.10.8 No capital expenditure is excluded from being qualifying expenditure for the purposes of the CAA by virtue of Chapters 15 (assets provided or used only partly for qualifying activity) or 17 (anti-avoidance) of Part 2 CAA.
CAPITAL ALLOWANCES. (a) The Seller undertakes to procure that each relevant Business Seller (at the Purchaser’s cost):
(i) reasonably cooperates with the relevant Business Purchasers; and
(ii) provides such information and assistance as the relevant Business Purchasers may reasonably request, in each case to assist the relevant Business Purchasers in claiming capital allowances in respect of the assets comprising the Group Businesses and in giving effect to the CAA Elections (as defined in Clause 2.11(b) below).
(b) The Seller and the Purchaser agree that, for the purposes of the Capital Xxxxxxxxxx Xxx 0000, the parts of the Purchase Price attributable (respectively) to:
(i) fixtures in the Properties situated in the United Kingdom expenditure on which is not "special rate expenditure" within section 104A of the Capital Allowances Act 2001 (Non-Integral Fixtures) shall be fair market value; and
(ii) fixtures in the Properties situated in the United Kingdom expenditure on which is "special rate expenditure" within section 104A of the Capital Allowances Act 2001 (Special Rate Fixtures) shall be fair market value in each case subject to any maximum amount determined under applicable law, and with the fair market values of the assets in question being determined in accordance with the Appraisal (as defined in Schedule 14) (the Agreed Apportionments).
(c) Each of the relevant Business Sellers and each of the relevant Business Purchasers shall, on Completion, enter into elections under section 198 of the Capital Allowances Xxx 0000, such elections specifying:
(i) the aggregate amount fixed in respect of Non-Integral Fixtures; and
(ii) the aggregate amount fixed in respect of Special Rate Fixtures, in each case in relation to the Properties situated in the United Kingdom, with such aggregate amounts corresponding to the respective Agreed Apportionments and apportioned between each relevant Business Purchaser and each relevant Business Seller in the same relevant proportions as the part of the Purchase Price attributable to the Group Businesses is allocated in accordance with the Purchase Price Allocation Agreement (the "CAA Elections") (with each party to retain a duly signed version of each relevant election at Completion).
(d) The Seller shall procure that each of the relevant Business Sellers shall, and the Purchaser shall procure that each of the relevant Business Purchasers shall submit their respective CAA Elections to HM Revenue & Customs within the time limit prescribed by l...
CAPITAL ALLOWANCES. 11.1 No balancing charge in respect of any capital allowances claimed or given would arise if any asset of the Company were to be realised for a consideration equal to the amount of the book value of such asset as shown or included in the Accounts (or, in the case of any asset acquired since the Accounts Date, for a consideration equal to the consideration given for the acquisition).
11.2 So far as the Warrantors are aware, all necessary conditions for the availability of all capital allowances claimed by the Company (or, where computations are made for capital allowances purposes for pools of assets, all the assets in that pool) have at all material times been satisfied and remain satisfied.
11.3 The Disclosure Letter contains full details of all expenditure incurred since the Accounts Date or to be incurred under any subsisting commitment in respect of which allowances can be claimed under part 2 (plant and machinery allowances) and part 3 (industrial building allowances) CAA 2001.
CAPITAL ALLOWANCES. All expenditure which the Company has incurred or may incur under any subsisting commitment on the provision of machinery, plant or buildings has qualified or will qualify (if not deductible as a trading expense for trade carried on by the Company) for writing- down allowances or industrial building allowances (as the case may be) under CAA and where appropriate notices have been given to the Inland Revenue under section 118, FA 1994.
CAPITAL ALLOWANCES. No election has been made by any Group Company in the last four years that has changed the amount or rate of capital allowances that that company could claim but for such election.
CAPITAL ALLOWANCES. (a) On the assumption that a disposal is made of the pool of assets or of any asset not in such a pool for a consideration equal to the book value shown in or adopted for the purposes of the Accounts for the assets in the pool or, as the case may be, the asset, no balancing charge under CAA or any other Tax Statute relating to capital allowances would be made on any Group Company (and for the purpose of this paragraph 15 "asset" shall be taken to include each and every part of such asset).
(b) No event has occurred since the Accounts Date by reason of which any balancing charges may fall to be made against or any disposal value brought into account by any Group Company under CAA or any other Taxation Statute relating to capital allowances, or a withdrawal of first year allowances or recovery of excess relief be made under sections 46 and 47 CAA.
(c) No claim for capital allowances has been made by any Group Company in respect of any asset which is leased to or from or hired to or from any Group Company and no election affecting any Group Company has been made under section 53 CAA (expenditure incurred by an equipment lessor) or section 55 CAA (expenditure incurred by an incoming lessee) in respect of any such asset.
(d) No Group Company has made an election under section 37 CAA (short-life assets) nor is it taken to have made such an election under subsection (8)(c) of that section.
(e) None of the assets of any Group Company expenditure on which has qualified for a capital allowance under Part I CAA (industrial buildings and structures), has at any time since that expenditure was incurred been used otherwise than as an industrial building or structure.
