16. Limitation on amount of certain reliefs used by certain high income individuals
The Principal Act is amended-
(a) in Schedule 25B-
(i) in the matter set out opposite reference number 47A by substituting "section 490, where the subscription for eligible shares is made on or before 15 October 2013 or on or after 1 January 2017" for "section 490", and
(ii) by inserting the following after the matter set out opposite reference number 15B:
"
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15C. |
Section 284 (wear and tear allowances) subject to section 485C(1B). |
An amount equal to the amount of wear and tear allowances (within the meaning of section 284) made to an individual in relation to specified plant and machinery for the tax year under section 284, or deemed to have been made to an individual under section 287, whether by virtue of section 298 or otherwise, including any such allowances or part of any such allowance made to the individual in a previous tax year and carried forward from that previous tax year in accordance with Part 9. |
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15D. |
Section 288 (balancing allowances and balancing charges) subject to section 485C(1B). |
An amount equal to the amount of the balancing allowance (within the meaning of section 288) made to an individual for the tax year under section 288 in relation to specified plant and machinery. ", |