Capital Allowances Act 2001 (c. 2)

Modifications etc. (not altering text)

C1 S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7

Part 6 U.K. Research and development allowances

Chapter 2 U.K. Qualifying expenditure

440 Excluded expenditure: land U.K.

(1) Expenditure on the acquisition of land, or rights in or over land, is not qualifying expenditure.

(2) But that does not prevent such expenditure from being qualifying expenditure so far as it is referable to the acquisition of—

(a) a building or structure already constructed on the land,

(b) rights in or over such a building or structure, or

(c) plant or machinery which forms part of such a building or structure.

(3) For the purposes of subsection (2), the expenditure is to be apportioned in a just and reasonable manner.