Part 4

Agricultural buildings allowances
Chapter 5

Balancing adjustments

Calculation of balancing adjustments

Calculation of balancing adjustment
385
1
A balancing allowance is made if—
a
there are no proceeds from the balancing event, or
b
the proceeds from the balancing event are less than the residue of qualifying expenditure immediately before the event.
2
The amount of the balancing allowance is the amount of—
a
the residue (if there are no proceeds);
b
the difference (if the proceeds are less than the residue).
3
A balancing charge is made if the proceeds from the balancing event are more than the residue of qualifying expenditure immediately before the event.
4
The 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)