Commentary

B3.1006 The relevant interest

Business tax
Business tax | Commentary

B3.1006 The relevant interest

Business tax | Commentary

B3.1006 The relevant interest

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.

The definition of 'relevant interest' in relation to qualifying expenditure is similar to that used for the purposes of industrial buildings allowances (see B3.280), except that for the purposes of flat conversion allowances the 'relevant interest' cannot be transferred by the grant or surrender of a lease.

The general rule is that the relevant interest in a flat at the time expenditure is incurred is the

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