Part 10

Assured tenancy allowances
Chapter 2

The relevant interest

The relevant interest in the building

Interest acquired on completion of construction
496
For the purpose of determining the relevant interest, a person who—
a
incurs expenditure on the construction of a building, and
b
is entitled to an interest in the building on or as a result of the completion of the construction,
is treated as having had that interest when the expenditure was incurred.
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