Part 4Agricultural buildings allowances

Chapter 5Balancing adjustments

Calculation of balancing adjustments

386The residue of qualifying expenditure

The residue of qualifying expenditure at any time is—

QE+B-Amath

where—

  • QE is the amount of qualifying expenditure,

  • B is the total amount of balancing charges previously made under this Part in respect of the expenditure, and

  • A is the total amount of any allowances (including balancing allowances) previously made under this Part in respect of that expenditure (whether to the same or to different persons).