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Legislation
Capital Allowances Act 2001

Chapter 4 Writing-down allowances

  • Section 372 Entitlement to writing-down allowance
  • Section 373 Basic rule for calculating amount of allowance
  • Section 374 First use of building not for purposes of husbandry, etc.
  • Section 375 Effect of acquisition of relevant interest after first use of building
  • Section 376 Calculation of allowance after acquisition
  • Section 377 Chargeable period when balancing adjustment made
  • Section 378 Allowance limited to residue of qualifying expenditure
  • Section 379 Final writing-down allowance
  1. Chapter 4 · Writing-down allowances
  2. Allowance limited to residue of qualifying expenditure

Section 378 | Allowance limited to residue of qualifying expenditure F1

From legislation.gov.uk

(1)The amount of a writing-down allowance for a chargeable period is limited to the residue of qualifying expenditure immediately before it is made or would, apart from this section, be made.

(2)The residue of qualifying expenditure is calculated in accordance with section 386.

Notes

  1. F1

    Pt. 4 omitted (with effect in relation to chargeable periods beginning on or after 1.4.2011 for corporation tax purposes and 6.4.2011 for income tax purposes in accordance with ss. 84(1)(3)(4), 85 of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 84(2) (with Sch. 27)

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