Capital Allowances Act 2001 (c. 2)

Part 3 U.K. Industrial buildings allowances

Modifications etc. (not altering text)

C1 Pt. 3 (ss. 271-360) modified (prosp.) by Proceeds of Crime Act 2002 (c. 29), ss. 448, 458(1), Sch. 10 paras. 18, 21

Chapter 6 U.K. Writing-down allowances

309 Entitlement to writing-down allowance U.K.

(1) A person is entitled to a writing-down allowance for a chargeable period if—

(a) qualifying expenditure has been incurred on a building,

(b) at the end of that chargeable period, the person is entitled to the relevant interest in the building in relation to that expenditure, and

(c) at the end of that chargeable period, the building is an industrial building.

(2) A person claiming a writing-down allowance may require the allowance to be reduced to a specified amount.