Part 4Agricultural buildings allowances
Chapter 5Balancing adjustments
Calculation of balancing adjustments
385Calculation of balancing adjustment
(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.