Modifications etc. (not altering text)
C1 S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7
(1)Whether a person is entitled to a writing-down allowance or a balancing allowance, or liable to a balancing charge, for a chargeable period is determined separately for each pool of qualifying expenditure and depends on—
(a)the available qualifying expenditure in that pool for that period (“AQE”), and
(b)the total of any disposal values to be brought into account in that pool for that period (“TDV”).
(2)If AQE exceeds TDV, the person is entitled to a writing-down allowance or a balancing allowance for the period.
(3)If TDV exceeds AQE, the person is liable to a balancing charge for the period.
(4)The entitlement under subsection (2) is to a writing-down allowance except for the final chargeable period when it is to a balancing allowance.
(5)The final chargeable period is the chargeable period in which the trade is permanently discontinued.