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Part 4 Agricultural buildings allowances

Chapter 4 Writing-down allowances

374 First use of building not for purposes of husbandry, etc.

1

No writing-down allowance is to be made under section 372 if, when the agricultural building is first used, it is not used for the purposes of husbandry.

2

Any writing-down allowance which has been made in respect of an agricultural building which has not been used is to be withdrawn if—

a

when the building is first used, it is not used for the purposes of husbandry, or

b

the person to whom the allowance was made sells the relevant interest before the building is first used.

3

All such assessments and adjustments of assessments are to be made as are necessary to give effect to this section.