Commentary

B3.1003 Qualifying expenditure

Business tax
Business tax | Commentary

B3.1003 Qualifying expenditure

Business tax | Commentary

B3.1003 Qualifying expenditure

These allowances are not available for expenditure incurred on or after 6 April 2013 (income tax) or 1 April 2013 (corporation tax). However, see B3.1012 for balancing adjustments which can still apply.

'Qualifying expenditure' means capital expenditure incurred on, or in connection with, the conversion or renovation of part of a 'qualifying building' into a 'qualifying flat' (see B3.1005), or on capital repairs incidental to such conversion or renovation1. For this purpose, expenditure on repairs is to be treated as capital expenditure if it would be disallowable in computing the profits of a UK property business2.

The conversion or

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