Part 3

Industrial buildings allowances
Chapter 1

Introduction

Industrial buildings allowances
271
1
Allowances are available under this Part if—
a
expenditure has been incurred on the construction of a building or structure,
b
the building or structure is (or, in the case of an initial allowance, is to be)—
i
in use for the purposes of a qualifying trade,
ii
a qualifying hotel,
iii
a qualifying sports pavilion, or
iv
in relation to qualifying enterprise zone expenditure, a commercial building or structure, and
c
the expenditure incurred on the construction of the building or structure, or other expenditure, is qualifying expenditure.
2
In the rest of this Part—
a
“building” is short for “building or structure”, and
b
“industrial building” means, subject to Chapter 2 (which defines terms used in subsection (1)(b) etc.), a building or structure which is within subsection (1)(b).
3
Allowances under this Part are made to the person who for the time being has the relevant interest in the building (see Chapter 3) in relation to the qualifying expenditure (see Chapter 4).