Section 51E — Finance Act 2008: Fourth restriction: other companies under common control

Fourth restriction: other companies under common control 51E 1 This section applies in relation to two or more companies which in a financial year are—

a controlled by the same person (see section 51F),

and b related to one another (see section 51G),

and in relation to which to neither section 51C nor section 51D applies.

2 The companies are entitled to a single annual investment allowance between them in respect of the relevant AIA qualifying expenditure.

3 The companies may allocate the annual investment allowance to the relevant AIA qualifying expenditure as they think fit.

4 The relevant AIA qualifying expenditure is the AIA qualifying expenditure incurred by the companies in chargeable periods ending in the financial year mentioned in subsection (1).