Commentary

B3.1015 Writing off qualifying expenditure (including demolition costs)

Business tax
Business tax | Commentary

B3.1015 Writing off qualifying expenditure (including demolition costs)

Business tax | Commentary

Flat conversions—other provisions

B3.1015 Writing off qualifying expenditure (including demolition costs)

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 'residue of qualifying expenditure' is the amount of qualifying expenditure which has not been written off in accordance with the following rules1.

Writing off initial allowances and writing-down allowances

Initial allowances, if made, are written off at the time the flat is first suitable for letting as a dwelling2. Where a writing-down allowance is made, it is

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