Plant and machinery used wholly for tonnage tax trade
(a) This subparagraph shall apply where, on a company's entry to tonnage tax, machinery or plant, in respect of which capital expenditure was incurred by the company before its entry into tonnage tax, is to be used wholly and exclusively for the purposes of the company's tonnage tax trade.
(b) Where this subparagraph applies -
(i) no balancing charge or balancing allowance shall be made under section 288 as a result of the machinery or plant concerned being used for the purposes of the company's tonnage tax trade,
(ii) any allowance attributable to the machinery or plant referred to in subparagraph (a) which, but for this clause, would have been made to the company under Part 9 or under any provision that is construed as one with that Part for any accounting period in which the company is a tonnage tax company shall not be made, and
(iii) section 287 shall not apply as respects any accounting period during which the machiner
…