Point in time view as at 06/04/2024.
Capital Allowances Act 2001, Section 311 is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)If a relevant event occurs, the writing-down allowance for any chargeable period ending after the event is—
where—
RQE is the amount of the residue of qualifying expenditure immediately after the event,
A is the length of the chargeable period, and
B is the length of the period from the date of the event to the end of the period of 25 years beginning with the day on which the building was first used.
(2)On any later relevant event, the writing-down allowance is further adjusted in accordance with this section.
(3)“Relevant event” means—
(a)a sale of the relevant interest in the building which is a balancing event to which section 314 applies, or
(b)an event which is a relevant event for the purposes of this section under section 347 or 349 (additional VAT liabilities and rebates).]
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)
Modifications etc. (not altering text)
C10S. 311 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 28
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
