Commentary

B3.1016 Giving effect to allowances and charges

Business tax
Business tax | Commentary

B3.1016 Giving effect to allowances and charges

Business tax | Commentary

B3.1016 Giving effect to allowances and charges

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 a person is entitled or liable to an allowance or charge for a chargeable period and the person's interest in the flat is an asset of a UK property business (formerly a Schedule A business) carried on in the period, the allowance is given as an expense of the business or the charge is given as a receipt of the business1.

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