F1Part 4 Agricultural buildings allowances

Chapter 5 Balancing adjustments

Calculation of balancing adjustments

386 The residue of qualifying expenditure

The residue of qualifying expenditure at any time is—

QE+B-A

where—

QE is the amount of qualifying expenditure,

B is the total amount of balancing charges previously made under this Part in respect of the expenditure, and

A is the total amount of any allowances (including balancing allowances) previously made under this Part in respect of that expenditure (whether to the same or to different persons).