http://www.legislation.gov.uk/ukpga/2001/2/section/385/2008-07-21Capital Allowances Act 2001An Act to restate, with minor changes, certain enactments relating to capital allowances.2001-04-05texttext/xmlenStatute Law Database2026-04-15Expert Participation2008-07-21 Capital Allowances Act 2001s. 774E(5)(b)Finance Act 2008Sch. 20 para. 12(11)Capital Allowances Act 2001s. 29(1A)The Fire and Rescue Services (Northern Ireland) Order 2006Sch. 3 para. 24(b)art. 1(3)art. 2 Part 4Chapter 53851A balancing allowance is made if—athere are no proceeds from the balancing event, orbthe proceeds from the balancing event are less than the residue of qualifying expenditure immediately before the event.2The amount of the balancing allowance is the amount of—athe residue (if there are no proceeds);bthe difference (if the proceeds are less than the residue).3A balancing charge is made if the proceeds from the balancing event are more than the residue of qualifying expenditure immediately before the event.4The amount of the balancing charge is the amount of the difference. 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)