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Capital Allowances Act 2001
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528Treatment of demolition costs
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(1)This section applies if—
(a)a dwelling-house is demolished, and
(b)the person to or on whom any balancing allowance or balancing charge is or might be made is the person incurring the cost of the demolition.
(2)The net cost of the demolition is added to the residue of qualifying expenditure attributable to the qualifying dwelling-house immediately before the demolition.
(3)“The net cost of the demolition” means the amount, if any, by which the cost of the demolition exceeds any money received for the remains of the property.
(4)If this section applies, the net cost of the demolition is not treated for the purposes of this Part as expenditure on any other property replacing the property demolished.
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