Version Superseded: 17/07/2012
Point in time view as at 22/03/2001. This version of this provision is not valid for this point in time.
Capital Allowances Act 2001, Section 393S 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)This section applies if—
(a)a qualifying flat is demolished, and
(b)the person who incurred the qualifying expenditure incurs the cost of the demolition.
(2)The net cost of the demolition is added to the residue of qualifying expenditure immediately before the demolition.
(3) “ The net cost of the demolition ” means the amount, if any, by which the cost of the demolition exceeds any money received for the remains of the flat.
(4)If this section applies, neither the cost of the demolition nor the net cost of the demolition is treated for the purposes of any Part of this Act as expenditure on any other property replacing the flat demolished.]
Textual Amendments
F1Pt. 4A (ss. 393A-393W) inserted (with effect as mentioned in s. 67 of the amending Act) by Finance Act 2001 (c. 9), s. 67, Sch. 19 Pt. 1
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