Section 310 | Basic rule for calculating amount of allowance ^F1

(1)The basic rule is that the writing-down allowance for a chargeable period is—

(a)in the case of qualifying enterprise zone expenditure, 25% of the expenditure, and

(b)in the case of other qualifying expenditure, 4% of the expenditure.

(2)The allowance is proportionately increased or reduced if the chargeable period is more or less than a year.

(3)This basic rule does not apply if section 311 applies.