Part 3

Industrial buildings allowances
Chapter 4

Qualifying expenditure

Qualifying enterprise zone expenditure

The time limit for qualifying enterprise zone expenditure
298
1
For the purposes of sections 299 to 304, the time limit for expenditure on the construction of a building on a site in an enterprise zone is—
a
10 years after the site was first included in the zone, or
b
if the expenditure is incurred under a contract entered into within those 10 years, 20 years after the site was first included in the zone.
2
In those sections “EZ building” is short for “building on a site in an enterprise zone”.
3
In this Part “enterprise zone” means an area designated as such by an order—
a
made by the Secretary of State under powers conferred by Schedule 32 to the Local Government, Planning and Land Act 1980 (c. 65), or
b
in Northern Ireland, made by the Department of the Environment under Article 7 of the Enterprise Zones (Northern Ireland) Order 1981 (S.I.1981/607 (N.I.15)).