Part 3Industrial buildings allowances
Chapter 8Writing off qualifying expenditure
339Crown or other person not within the charge to tax entitled to the relevant interest
1
This section applies if at any time—
a
the Crown, or
b
a person who is not within the charge to tax,
(“A”) is entitled to the relevant interest in a building.
2
Sections 333 to 338 (writing off qualifying expenditure) have effect as if all writing-down allowances and balancing adjustments had been made as could have been made if—
a
a person (“B”) who—
i
is not the Crown,
ii
is within the charge to tax, and
iii
is not a company,
had been entitled to the relevant interest, and
b
the other assumptions in subsection (3) had been made.
3
The assumptions are that—
a
while A was entitled to the relevant interest, all things which were done in relation to the building—
i
by or to A, or
ii
by or to a person using the building under the authority of A,
were done by or to B for the purposes of, and in the course of, a trade carried on by B,
b
any sale of the relevant interest in the building by or on behalf of A was made in connection with the termination of the trade carried on by B, and
c
B’s periods of account for that trade had, in the case of each tax year, ended immediately before the beginning of the next tax year.