[F1343 Balancing adjustment on ending of concessionU.K.
(1)If—
(a)the relevant interest is a highway concession, and
(b)the concession is brought to or comes to an end without being treated as extended under section 344,
the ending of the concession is a balancing event.
(2)The proceeds from such a balancing event are—
(a)any insurance money received by the person entitled to the highway concession in respect of any qualifying expenditure, and
(b)other compensation so received so far as it consists of capital sums.]
Textual Amendments
F1Pt. 3 omitted (with effect in relation to chargeable periods beginning on or after 1.4.2011 for corporation tax purposes and 6.4.2011 for income tax purposes in accordance with ss. 84(1)(3)(4), 85, 86 of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 84(2) (with Sch. 27)