Part 4Agricultural buildings allowances
Chapter 4Writing-down allowances
372Entitlement to writing-down allowance
1
A person is entitled to a writing-down allowance for a chargeable period if—
a
qualifying expenditure has been incurred,
b
at any time during that chargeable period he is entitled to the relevant interest in relation to the qualifying expenditure, and
c
that time falls within the writing-down period.
2
The writing-down period, in relation to qualifying expenditure incurred by a person, is 25 years beginning with the first day of the chargeable period of that person in which the qualifying expenditure was incurred.
3
A person claiming a writing-down allowance may require the allowance to be reduced to a specified amount.