Part 10

Assured tenancy allowances
Chapter 5

Writing-down allowances

Entitlement to and calculation of writing-down allowances

Calculation of allowance after sale of relevant interest
509
1
This section applies if—
a
the relevant interest in a qualifying dwelling-house is sold, and
b
a balancing adjustment falls to be made under section 513 as a result of the sale.
2
If this section applies, the writing-down allowance for any chargeable period ending after the sale is—
RQE × A/B
where—
- RQE is the amount of the residue of qualifying expenditure attributable to the dwelling-house immediately after the sale,
- A is the length of the chargeable period, and
- B is the length of the period from the date of the sale to the end of the period of 25 years beginning with the day on which the dwelling-house was first used.
3
On any later such sale, the writing-down allowance is further adjusted in accordance with this section.