F1Part 3 Industrial buildings allowances

Chapter 7 Balancing adjustments

Meaning of “the relevant period of ownership” etc.

323 Adjusted net cost

The amount of the adjusted net cost is—

(S-P)xIR

where—

S is the starting expenditure,

P is the amount of any proceeds from the balancing event,

I is the number of days in the relevant period of ownership on which the building was an industrial building or used for research and development, and

R is the number of days in the whole of the relevant period of ownership.