F1PART 2ASTRUCTURES AND BUILDINGS ALLOWANCES
F2CHAPTER 7AAdjustment for pre-April 2020 allowance
270GDAdjustment for pre-April 2020 allowance
(1)
This section applies if—
(a)
on the relevant date, a person is entitled to an allowance under this Part by reference to qualifying expenditure incurred in relation to a building or structure,
(b)
the person does not dispose of the relevant interest in the building or structure before the end of the period mentioned in section 270AA(2)(b)(ii) (the “allowance period”), and
(c)
at the end of the allowance period, the person is entitled to an allowance under this Part by reference to the qualifying expenditure mentioned in paragraph (a).
(2)
The person is entitled to an additional amount of allowance for the chargeable period in which the allowance period ends.
(3)
The additional amount of the allowance is 1% of the qualifying expenditure multiplied by the following fraction—
where D is the number of days during the period beginning with 29 October 2018 and ending with the relevant date in respect of which an allowance under this Part by reference to the qualifying expenditure was made to the person.
(4)
For the purposes of this section “the relevant date” means—
(a)
for income tax purposes, 5 April 2020, or
(b)
for corporation tax purposes, 31 March 2020.