Section 361 | Agricultural buildings allowances ^F1

(1)Allowances are available under this Part if—

(a)capital expenditure has been incurred on the construction of a building (such as a farmhouse, farm building or cottage) or on the construction of fences or other works,

(b)the expenditure was incurred—

(i)by a person having a freehold or leasehold interest in land in the United Kingdom occupied wholly or mainly for the purposes of husbandry, and

(ii)for the purposes of husbandry on that land, and

(c)the expenditure, or other expenditure, is qualifying expenditure.

(2)In this Part—

(a)“agricultural building” means a building, fence or other works referred to in subsection (1)(a), and

(b)“the related agricultural land” means the land referred to in subsection (1)(b).

(3)Allowances under this Part are made to the person who for the time being has the relevant interest (see Chapter 2) in relation to the qualifying expenditure (see Chapter 3).