Part 4

Agricultural buildings allowances
Chapter 5

Balancing adjustments

General

Exclusion of proportion of proceeds
384
1
The amounts referred to in column 2 of the Table in section 383 do not include any amount which, on a just and reasonable apportionment, is attributable to assets representing expenditure in respect of which an allowance cannot be made under this Part.
2
If the qualifying expenditure in respect of which the balancing adjustment is made was restricted as a result of—
a
subsection (3) or (4) of section 369 (restrictions on expenditure on farmhouse), or
b
subsection (5) of that section (restriction on expenditure on buildings to be used partly for purposes other than husbandry),
a corresponding proportion only of the amounts referred to in the Table in section 383 is to be treated as proceeds from the balancing event.
3
Subsection (1) does not affect sections 562, 563 and 564(1) (apportionment and procedure for determining apportionment).
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)