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Capital Allowances Act 2001

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Changes over time for: Section 361

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Point in time view as at 06/04/2024.

Changes to legislation:

Capital Allowances Act 2001, Section 361 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. Help about Changes to Legislation

[F1361 Agricultural buildings allowancesU.K.

This section has no associated Explanatory Notes

(1)Allowances are available under this Part if—

(a)capital expenditure has been incurred on the construction of a building (such as a farmhouse, farm building or cottage) or on the construction of fences or other works,

(b)the expenditure was incurred—

(i)by a person having a freehold or leasehold interest in land in the United Kingdom occupied wholly or mainly for the purposes of husbandry, and

(ii)for the purposes of husbandry on that land, and

(c)the expenditure, or other expenditure, is qualifying expenditure.

(2)In this Part—

(a)agricultural building” means a building, fence or other works referred to in subsection (1)(a), and

(b)the related agricultural land” means the land referred to in subsection (1)(b).

(3)Allowances under this Part are made to the person who for the time being has the relevant interest (see Chapter 2) in relation to the qualifying expenditure (see Chapter 3).]

Textual Amendments

F1Pt. 4 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 of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 84(2) (with Sch. 27)

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