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Capital Allowances Act 2001

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Changes over time for: Section 393D

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Version Superseded: 17/07/2012

Alternative versions:

Status:

Point in time view as at 11/05/2001. This version of this provision has been superseded. Help about Status

Changes to legislation:

Capital Allowances Act 2001, Section 393D is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F1393D Meaning of “qualifying flat”U.K.

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(1) In this Part “ qualifying flat ” means a flat in respect of which the following requirements are met—

(a)the flat must be in a qualifying building,

(b)the flat must be suitable for letting as a dwelling,

(c)the flat must be held for the purpose of short-term letting,

(d)it must be possible to gain access to the flat without using the part of the ground floor of the building that is authorised for business use (as defined in section 393C(2)),

(e)the flat must not have more than 4 rooms,

(f)the flat must not be a high value flat,

(g)the flat must not be (or have been) created or renovated as part of a scheme involving the creation or renovation of one or more high value flats, and

(h)the flat must not be let to a person connected with the person who incurred the expenditure on its conversion or renovation.

(2) In subsection (1)(c) “ short-term letting ” means letting as a dwelling on a lease for a term (or, in Scotland, period) of not more than 5 years.

(3)For the purposes of subsection (1)(e), the following are ignored in determining the number of rooms in a flat—

(a)any kitchen or bathroom, and

(b)any closet, cloakroom or hallway not exceeding 5 square metres in area.

(4)For the purposes of this Part, if a flat is a qualifying flat immediately before a period when it is temporarily unsuitable for letting as a dwelling, it is to be treated as being a qualifying flat during that period.

(5)Treasury regulations may make further provision as to the circumstances in which a flat is, or is not, a qualifying flat.]

Textual Amendments

F1Pt. 4A (ss. 393A-393W) inserted (with effect as mentioned in s. 67 of the amending Act) by Finance Act 2001 (c. 9), s. 67, Sch. 19 Pt. 1

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