Part 3A

Business Premises Renovation Allowances
Chapter 4

THE RELEVANT INTEREST IN THE QUALIFYING BUILDING

Interest acquired on completion of conversion
360F
For the purposes of determining the relevant interest in a qualifying building, a person who—
a
incurs expenditure on the conversion of a qualifying building into qualifying business premises, and
b
is entitled to an interest in the qualifying building on or as a result of the completion of the conversion,
is treated as having had that interest when the expenditure was incurred.
S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7
Pt. 3A inserted (11.4.2007 with effect in accordance with s. 92 of the amending Act) by Finance Act 2005 (c. 7), Sch. 6 para. 1; S.I. 2007/949, art. 2