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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2023 - onwards
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97A. Pre-letting expenditure in respect of vacant premises.

(1) In this section -

'specified day' means the day falling on or after the date of the passing of the Finance Act 2017 on which a vacant premises is first let as a residential premises after the end of the period during which it is not occupied;

'specified period', in relation to a vacant premises, means the period of 12 months ending the day before the specified day;

'vacant premises' means any premises that is not occupied for the entire of the period of 6 months immediately before the specified day.

(2) Subject to subsection (3), this section shall apply to expenditure incurred by the person chargeable on or before 31 December 2024 on a vacant premises.

(3) Notwithstanding section 105 and subject to subsections (4) and (5), where a person incurs expenditure on a vacant premises during the specified period and such expenditure is, apart from this section, not authorised as a deduction under section 97(2) in computing a surplus or deficiency for the purposes of Case V of Schedule D i

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