Income tax – Capital allowances. The Upper Tribunal (Tax and Chancery Chamber) (the tribunal) dismissed the appeal by the taxpayer against a decision of the First-tier Tribunal (Tax Chamber) to the effect that the taxpayer had not been entitled to an annual investment allowance on the basis that he had permanently discontinued his trade in the tax year ended 31 March 2009, being the effect of s 38 of the Capital Allowances Act 2001. The tribunal decided that a discontinuance of a trade at the end of a chargeable period was a discontinuance of that trade in that period.