C2

C1C3C4C5C6C7C8C9F1Part 3 Industrial buildings allowances

Annotations:
Amendments (Textual)
F1

Pt. 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)

Modifications etc. (not altering text)
C1

Pt. 3 modified (24.2.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 10 para. 18 (with Sch. 10 para. 21); S.I. 2003/120, art. 2, Sch. (with arts. 34) (as amended (20.2.2003) by S.I. 2003/333, art. 14)

C7

Pt. 3 restricted (19.7.2007) by Finance Act 2007 (c. 11), s. 36(1)-(3), (7)

C8

Pt. 3 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 21(1)

C9

Pt. 3 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 38(1)

C3C8C9Chapter 6 Writing-down allowances

309C8C9 Entitlement to writing-down allowance

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.