Commentary

B3.1011 Writing-down allowances

Business tax
Business tax | Commentary

B3.1011 Writing-down allowances

Business tax | Commentary

B3.1011 Writing-down allowances

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.

Where the qualifying expenditure has not been wholly relieved by an initial allowance, writing-down allowances of 25% of the expenditure are available1. The allowance is given on a straight-line basis (not the reducing balance basis), and the amount is restricted to the residue of qualifying expenditure (see B3.1015) immediately before the writing-down allowance at the end of the chargeable period2. However, the entitlement to claim writing

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial