Commentary

B3.802 Writing-down allowances

Business tax
Business tax | Commentary

B3.802 Writing-down allowances

Business tax | Commentary

B3.802 Writing-down allowances

A person is entitled to a writing-down allowance for a chargeable period if:

  1.  

    •     he has incurred qualifying expenditure on dredging within the writing-down period

  2.  

    •     at any time in the qualifying period he is carrying on the qualifying trade for which the expenditure was incurred1

For expenditure incurred after 5 November 1962, the allowance is four per cent of the expenditure2. For expenditure incurred before 6 November 1962, the rate is two per cent3.

For expenditure incurred before 1 April 1986, initial allowances were available, so that writing-down allowances are available for a shorter writing-down period ending when

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