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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2016 - onwards
  Version 15 of 15    

272. Writing-down allowances.

(1) A building or structure shall be one to which this section applies only if the capital expenditure incurred on the construction of it has been incurred on or after the 30th day of September, 1956.

(2) Subject to this Part, where -

(a) any person is, at the end of a chargeable period or its basis period, entitled to an interest in a building or structure to which this section applies,

(b) at the end of the chargeable period or its basis period, the building or structure is an industrial building or structure, and

(c) that interest is the relevant interest in relation to the capital expenditure incurred on the construction of that building or structure,

an allowance (in this Chapter referred to as a "writing-down allowance") shall be made to such person for that chargeable period.

(3) A writing-down allowance shall be of an amount equal to -

(a) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (a) or

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