Point in time view as at 06/04/2024.
Capital Allowances Act 2001, Section 360J is up to date with all changes known to be in force on or before 06 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)The writing-down allowance for a chargeable period is 25% of the qualifying expenditure.
(2)The allowance is proportionately increased or reduced if the chargeable period is more or less than a year.
(3)The amount of the writing-down allowance for a chargeable period is limited to the residue of qualifying expenditure.
(4)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. 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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