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
(1)The amount of the writing-down allowance to which a person is entitled for a chargeable period is 25% of the amount by which AQE exceeds TDV.
(2)If the chargeable period is more or less than a year, the amount is proportionately increased or reduced.
(3)If the trade has been carried on for part only of the chargeable period, the amount is proportionately reduced.
(4)A person claiming a writing-down allowance may require the allowance to be reduced to a specified amount.
(5)The amount of the balancing charge to which a person is liable for a chargeable period is the amount by which TDV exceeds AQE.
(6)The amount of the balancing allowance to which a person is entitled for the final chargeable period is the amount by which AQE exceeds TDV.