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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 30 November 1997 - onwards
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660. Farming: wear and tear allowances deemed to have been made in certain cases.

(1) In this section -

"balancing allowance" and "balancing charge" have the same meanings respectively as in Chapter 2 of Part 9;

"wear and tear allowance" means an allowance made under section 284.

(2) In determining whether any, and if so what, wear and tear allowance, balancing allowance or balancing charge in respect of machinery or plant is to be made to or on any person for any chargeable period in taxing a trade of farming, there shall be deemed to have been made to that person, for every previous chargeable period in which the machinery or plant belonged to that person and which is a chargeable period to be taken into account for the purpose of this section, such wear and tear allowance or greater wear and tear allowance, if any, in respect of the machinery or plant as would have been made to that person if, in relation to every such previous chargeable period -

(a) the profits or gains from farming had been chargeable to tax under Case I of Schedule D,

(b) those profits or gai

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