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Capital Allowances Act 2001
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314When balancing adjustments are made
This section has no associated Explanatory Notes
(1)A balancing adjustment is made if—
(a)qualifying expenditure has been incurred on a building, and
(b)a balancing event occurs while the building is an industrial building or after it has ceased to be an industrial building.
(2)A balancing adjustment is either a balancing allowance or a balancing charge and is made for the chargeable period in which the balancing event occurs.
(3)A balancing allowance or balancing charge is made to or on the person entitled to the relevant interest in the building immediately before the balancing event.
(4)No balancing adjustment is made if the balancing event occurs more than 25 years after the building was first used.
(5)If more than one balancing event within section 315(1) occurs during a period when the building is not an industrial building, a balancing adjustment is made only on the first of them.
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