[F1287 Interest acquired on completion of constructionU.K.
This section has no associated Explanatory Notes
For the purposes of determining the relevant interest, a person who—
(a)incurs expenditure on the construction of a building, and
(b)is entitled to an interest in the building on or as a result of the completion of the construction,
is treated as having had that interest when the expenditure was incurred.]
Textual Amendments
F1Pt. 3 omitted (with effect in relation to chargeable periods beginning on or after 1.4.2011 for corporation tax purposes and 6.4.2011 for income tax purposes in accordance with ss. 84(1)(3)(4), 85, 86 of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 84(2) (with Sch. 27)