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Capital Allowances Act 2001

Section 381: Balancing events (on making an election)

1311.This section is based on parts of section 129(1) and (2) of CAA 1990. It defines “balancing events”.

1312.There is a minor change. Section 129(1)(b) refers to an agricultural building which “otherwise ceases to exist as such”. In subsection (2)(c) of this section the corresponding words are “the agricultural building ceases altogether to be used (without being demolished or destroyed)”. This provides a link to the provisions which define the “proceeds” from such an event. CAA 1990 has no such link. See Change 44 in Annex 1.

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