Capital Allowances Act 2001 (c. 2)

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

Part 10 U.K. Assured tenancy allowances

Chapter 8 U.K. Supplementary provisions

530 Apportionment of sums partly referable to non-qualifying assets U.K.

(1) If the sum paid for the sale of the relevant interest in a building is attributable—

(a) partly to assets representing expenditure for which an allowance can be made under this Part, and

(b) partly to assets representing other expenditure,

only so much of the sum paid as on a just and reasonable apportionment is attributable to the assets referred to in paragraph (a) is to be taken into account for the purposes of this Part.

(2) Subsection (1) applies to other proceeds from a balancing event in respect of a building as it applies to a sum given for the sale of the relevant interest in the building.

(3) Subsection (1) does not affect any other provision of this Part requiring an apportionment of the proceeds of a balancing event.