F1Part 3ABusiness Premises Renovation Allowances
Chapter 9WRITING OFF QUALIFYING EXPENDITURE
360STreatment of demolition costs
(1)
This section applies if—
(a)
a qualifying building is demolished, and
(b)
the person who incurred the qualifying expenditure incurs the cost of the demolition.
(2)
The net cost of the demolition is added to the residue of qualifying expenditure immediately before the demolition.
(3)
“ The net cost of the demolition ” means the amount, if any, by which the cost of the demolition exceeds any money received for the remains of the qualifying building.
(4)
If this section applies, neither the cost of the demolition nor the net cost of the demolition is treated for the purposes of any Part of this Act as expenditure on any other property replacing the qualifying building demolished.