F1PART 2ASTRUCTURES AND BUILDINGS ALLOWANCES
CHAPTER 4THE RELEVANT INTEREST IN THE BUILDING OR STRUCTURE
270DAGeneral rule as to what is the relevant interest
1
The relevant interest in relation to any qualifying expenditure is the interest in the building or structure to which the person who incurred the expenditure on its construction was entitled when the expenditure was incurred.
2
Subsection (1) is subject to the following provisions of this Chapter and to sections 270FB (highway undertakings) and 270IG (provisions applying on termination of lease).
3
If—
a
the person who incurred the expenditure on construction was entitled to more than one interest in the building or structure when the expenditure was incurred, and
b
one of those interests was reversionary on all the others,
the reversionary interest is the relevant interest.
4
For the purposes of section 270AA(2), on the sale of the relevant interest in a building or structure, the seller (and not the purchaser) is treated as the person who has the relevant interest on the day of transfer.
Pt. 2A inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 2