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Capital Allowances Act 2001

Capital Allowances Act 2001

2001 CHAPTER 2

Commentary on Sections

Glossary

Part 3: Industrial buildings allowances
Chapter 8: Writing off qualifying expenditure
Section 334: Writing off writing-down allowances

1134.This section is based on section 8(3) and (4) of CAA 1990. It provides for writing off writing-down allowances.

1135.Subsection (2) deals with the situation in which a balancing event occurs at the end of a chargeable period. In order to calculate the balancing adjustment any writing-down allowance written off for that chargeable period has to be taken into account in calculating the residue of qualifying expenditure immediately before the event. “Residue of qualifying expenditure” is defined in section 313.

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