Capital Allowances Act 2001

495 General rule as to what is the relevant interest in the buildingU.K.
This section has no associated Explanatory Notes

(1)The relevant interest in the building is the interest in the building to which the person who incurred the expenditure on the construction of the building was entitled when the expenditure was incurred.

(2)Subsection (1) is subject to the following provisions of this Chapter.

(3)If—

(a)the person who incurred the expenditure on the construction of the building was entitled to more than one interest in the building when the expenditure was incurred, and

(b)one of those interests was reversionary on all the others,

the reversionary interest is the relevant interest.