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Capital Allowances Act 2001

Capital Allowances Act 2001

2001 CHAPTER 2

Commentary on Sections

Glossary

Part 3: Industrial buildings allowances
Chapter 4: Qualifying expenditure
Section 297: Purchase of used building from developer

1027.This section is based on section 10(4) and (5) of CAA 1990. If a building is purchased from a developer after it has been first used, this section:

  • gives the qualifying expenditure for the buyer; and

  • writes off expenditure in respect of the time the developer had the building.

1028.Subsection (3) provides that sections 301 and 303 take precedence over this section. These sections only apply to buildings in enterprise zones which are purchased within two years of first use.

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