Part 3A

Business Premises Renovation Allowances
Chapter 6

WRITING-DOWN ALLOWANCES

Amount of allowance
360J
1
The writing-down allowance for a chargeable period is 25% of the qualifying expenditure.
2
The allowance is proportionately increased or reduced if the chargeable period is more or less than a year.
3
The amount of the writing-down allowance for a chargeable period is limited to the residue of qualifying expenditure.
4
For this purpose the residue is ascertained immediately before writing off the writing-down allowance at the end of the chargeable period.
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