Part 3 Industrial buildings allowances
Chapter 4 Qualifying expenditure
Qualifying enterprise zone expenditure
298 The time limit for qualifying enterprise zone expenditure
(1)
For the purposes of sections 299 to 304, the time limit for expenditure on the construction of a building on a site in an enterprise zone is—
(a)
10 years after the site was first included in the zone, or
(b)
if the expenditure is incurred under a contract entered into within those 10 years, 20 years after the site was first included in the zone.
(2)
In those sections “EZ building” is short for “building on a site in an enterprise zone”.
(3)
In this Part “enterprise zone” means an area designated as such by an order—
(a)
made by the Secretary of State F1, the Scottish Ministers or the National Assembly for Wales, under powers conferred by Schedule 32 to the Local Government, Planning and Land Act 1980 (c. 65), or
(b)
in Northern Ireland, made by the Department of the Environment under Article 7 of the Enterprise Zones (Northern Ireland) Order 1981 (S.I.1981/607 (N.I.15)).