Section 379 | Final writing-down allowance ^F1

(1)In this section “the final writing-down allowance” means the writing-down allowance which is made—

(a)to the person who is entitled to the relevant interest when the writing-down period ends, and

(b)for the chargeable period in which it ends.

(2)If the final writing-down allowance would, apart from this section, be less than the amount of the residue of qualifying expenditure immediately before it is made, the allowance is increased to that amount.

(3)When determining the residue of qualifying expenditure under section 386 for the purposes of subsection (2), assume that all such writing-down allowances have been made to the persons who have been entitled to the relevant interest during the writing-down period as could have been made if each of them—

(a)had been entitled to allowances, and

(b)had claimed allowances in full.