Part 4

Agricultural buildings allowances
Chapter 4

Writing-down allowances

Final writing-down allowance
379
1
In this section “
the final writing-down allowance
” means the writing-down allowance which is made—
a
to the person who is entitled to the relevant interest when the writing-down period ends, and
b
for the chargeable period in which it ends.
2
If the final writing-down allowance would, apart from this section, be less than the amount of the residue of qualifying expenditure immediately before it is made, the allowance is increased to that amount.
3
When determining the residue of qualifying expenditure under section 386 for the purposes of subsection (2), assume that all such writing-down allowances have been made to the persons who have been entitled to the relevant interest during the writing-down period as could have been made if each of them—
a
had been entitled to allowances, and
b
had claimed allowances in full.
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)