Capital allowances: determination of capital value of industrial buildings etc.E+W+S
24(1)This paragraph applies for the purposes of Part 3 of the 2001 Act, and the other provisions of that Act which are relevant to that Part, in relation to a relevant transfer of the relevant interest in an industrial building or structure.E+W+S
(2)The transfer is to be treated as a sale of that relevant interest.
(3)The net proceeds of that sale, in relation to the transferor, are to be treated—
(a)if a capital sum is received by the transferor by way of consideration or compensation in respect of the transfer, as an amount equal to that sum; or
(b)if no such sum is received, as nil.
(4)Sections 567 to 570 of the 2001 Act (sales treated as being for alternative amount) are not to have effect in relation to that sale.
(5)For the purposes of this paragraph a sum received by a person connected with the transferor is to be treated as received by the transferor.