Section 270GD | Adjustment for pre-April 2020 allowance ^F1F2

(1)This section applies if—^F1F2

(a)on the relevant date, a person is entitled to an allowance under this Part by reference to qualifying expenditure incurred in relation to a building or structure,^F1F2

(b)the person does not dispose of the relevant interest in the building or structure before the end of the period mentioned in section 270AA(2)(b)(ii) (the “allowance period”), and^F1F2

(c)at the end of the allowance period, the person is entitled to an allowance under this Part by reference to the qualifying expenditure mentioned in paragraph (a).^F1F2

(2)The person is entitled to an additional amount of allowance for the chargeable period in which the allowance period ends.^F1F2

(3)The additional amount of the allowance is 1% of the qualifying expenditure multiplied by the following fraction—^F1F2

(4)For the purposes of this section “the relevant date” means—^F1F2

(a)for income tax purposes, 5 April 2020, or^F1F2

(b)for corporation tax purposes, 31 March 2020.^F1F2