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Capital Allowances Act 2001
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- UK Public General Acts
- 2001 c. 2
- Part 3
- Chapter 4
- Introduction
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This is the original version (as it was originally enacted).
Introduction
292Meaning of “qualifying expenditure”
In this Part “qualifying expenditure” means expenditure which is qualifying expenditure under—
| section 294 | capital expenditure on construction of a building |
| section 295 | purchase of unused building where developer not involved |
| section 296 | purchase of building which has been sold unused by developer |
| section 301 | qualifying expenditure on sale within 2 years of first use where all of expenditure is qualifying enterprise zone expenditure |
| section 303 | qualifying expenditure on sale within 2 years of first use where part of expenditure is qualifying enterprise zone expenditure. |
293Meaning of references to carrying on a trade as a developer
For the purposes of this Chapter—
(a)a developer is a person who carries on a trade which consists in whole or in part in the construction of buildings with a view to their sale, and
(b)an interest in a building is sold by the developer in the course of the development trade if the developer sells it in the course of the trade or (as the case may be) that part of the trade that consists in the construction of buildings with a view to their sale.
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