[F1312 Allowance limited to residue of qualifying expenditureU.K.
(1)The amount of the writing-down allowance for a chargeable period is limited to the residue of qualifying expenditure.
(2)For this purpose the residue is ascertained immediately before writing off the writing-down allowance at the end of the chargeable period.]
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)
C1Pt. 3 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 21(1)
C2Pt. 3 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 38(1)