Commentary

B3.1115 Writing off qualifying expenditure

Business tax
Business tax | Commentary

B3.1115 Writing off qualifying expenditure

Business tax | Commentary

Business premises renovation—further provisions

B3.1115 Writing off qualifying expenditure

Balancing adjustments and, to some extent, writing-down allowances, depend on the residue of qualifying expenditure at a particular time. It is the qualifying expenditure which has not been written off in accordance with the rules described below1.

Initial allowances, if made, are written off at the time when the qualifying business premises are first used or suitable for letting for use for the specified business purposes2.

Where a writing-down allowance is made, that amount is written off at the end of the chargeable period3. However, where a balancing event takes place at

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