B3.1003 Qualifying expenditureThese 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
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
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.