Point in time view as at 06/04/2024.
Capital Allowances Act 2001, Section 360G 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)A person who has incurred qualifying expenditure in respect of any qualifying building is entitled to an initial allowance in respect of the expenditure.
(2)The amount of the initial allowance is 100% of the qualifying expenditure.
(3)A person claiming an initial allowance under this section may require the allowance to be reduced to a specified amount.
(4)The initial allowance is made for the chargeable period in which the qualifying expenditure is incurred.]
Textual Amendments
F1Pt. 3A inserted (11.4.2007 with effect in accordance with s. 92 of the amending Act) by Finance Act 2005 (c. 7), Sch. 6 para. 1; S.I. 2007/949, art. 2
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