Part 3A

Business Premises Renovation Allowances
Chapter 11

SUPPLEMENTARY PROVISIONS

Apportionment of sums partly referable to non-qualifying assets
360Z2
1
If the sum paid for the sale of the relevant interest in a qualifying building is attributable—
a
partly to assets representing expenditure for which an allowance can be made under this Part, and
b
partly to assets representing other expenditure,
only so much of the sum as on a just and reasonable apportionment is attributable to the assets referred to in paragraph (a) is to be taken into account for the purposes of this Part.
2
Subsection (1) applies to other proceeds from a balancing event in respect of a qualifying building as it applies to a sum given for the sale of the relevant interest in the qualifying building.
3
Subsection (1) does not affect any other provision of this Act requiring an apportionment of the proceeds of a balancing event.
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