[F1373 Basic rule for calculating amount of allowanceU.K.
This section has no associated Explanatory Notes
(1)The basic rule is that the writing-down allowance for a chargeable period is 4% of the qualifying expenditure.
(2)The allowance is proportionately increased or reduced if the chargeable period is more or less than a year.]
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)