Part 10

Assured tenancy allowances
Chapter 5

Writing-down allowances

Entitlement to and calculation of writing-down allowances

Basic rule for calculating amount of allowance
508
1
The basic rule is that the writing-down allowance for a chargeable period is 4% of the qualifying expenditure attributable to the dwelling-house or (as the case may be) each dwelling-house falling within section 507(1)(d).
2
The allowance is proportionately increased or reduced if the chargeable period is more or less than a year.
3
The basic rule does not apply if section 509 applies.
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