SCHEDULES
SCHEDULE 27Abolition of allowances: consequential amendments and savings
Part 2Savings
Enterprise zone expenditure
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1
Sub-paragraph (2) applies if—
a
an initial allowance or a writing down allowance has been made under Part 3 of CAA 2001 in respect of qualifying enterprise zone expenditure, and
b
an event occurs in relation to the building on which the expenditure was incurred which, if that Part of that Act remained in force, would be a balancing event in respect of which a balancing charge would be made.
2
Unless the event occurs more than 7 years after the building was first used, a balancing charge is to be made in respect of the event as if that Part of that Act remained in force.