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Changes over time for: Section 270BH


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 06/04/2024.
Changes to legislation:
Capital Allowances Act 2001, Section 270BH 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.

Changes to Legislation
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[270BHMarket value ruleU.K.
This section has no associated Explanatory Notes
(1)Expenditure is “excluded expenditure” for the purposes of this Part if, and to the extent that, it exceeds—
(a)in a case where the qualifying capital expenditure under section 270BC or 270BD is the capital sum paid for the relevant interest in the building or structure, the market value of the interest (see section 577(1)), or
(b)in any other case, the market value amount of the works, services and other matters to which it relates.
(2)The “market value amount” means the amount of expenditure which it would have been normal and reasonable to incur on the works, services or other matters—
(a)in the market conditions prevailing when the expenditure was incurred, and
(b)assuming the transaction as a result of which the expenditure was incurred was between persons dealing with each other at arm’s length in the open market.]
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