SCHEDULES
SCHEDULE 10Tax
Part 2Provisions relating to Part 5
Capital Allowances
22Flat conversion
1
If there is a Part 5 transfer of a relevant interest in a flat, Part 4A of the Allowances Act 2001 is to have effect as if the transfer were a balancing event within section 393N of that Act.
2
But the Part 5 transfer is not to be treated as a balancing event for the purposes of Part 4A of that Act other than by virtue of sub-paragraph (1).