Part 3

Industrial buildings allowances
Chapter 7

Balancing adjustments

Meaning of “the relevant period of ownership” etc.

Net allowances
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For the purposes of this Chapter, the amount of the net allowances made, in relation to any qualifying expenditure, is—
(I + WDA + RDA) - B
where—
- I is the amount of any initial allowances made to the person in relation to that qualifying expenditure,
- WDA is the amount of any writing-down allowances made to the person for chargeable periods ending on or before the date of the balancing event giving rise to the balancing adjustment,
- RDA is the amount of any allowances under Part 6 (research and development allowances) made to the person for such chargeable periods, and
- B is the amount of any balancing charges made on the person for such chargeable periods.