Part 4

Agricultural buildings allowances
Chapter 4

Writing-down allowances

Entitlement to writing-down allowance
372
1
A person is entitled to a writing-down allowance for a chargeable period if—
a
qualifying expenditure has been incurred,
b
at any time during that chargeable period he is entitled to the relevant interest in relation to the qualifying expenditure, and
c
that time falls within the writing-down period.
2
The writing-down period, in relation to qualifying expenditure incurred by a person, is 25 years beginning with the first day of the chargeable period of that person in which the qualifying expenditure was incurred.
3
A person claiming a writing-down allowance may require the allowance to be reduced to a specified amount.
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. 4 restricted (19.7.2007) by Finance Act 2007 (c. 11), s. 36(4)-(7)
Pt. 4 omitted (with effect in relation to chargeable periods beginning on or after 1.4.2011 for corporation tax purposes and 6.4.2011 for income tax purposes in accordance with ss. 84(1)(3)(4), 85 of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 84(2) (with Sch. 27)