- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (05/07/2019)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 22/07/2020
Point in time view as at 05/07/2019. This version of this provision has been superseded.
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There are currently no known outstanding effects for the Capital Allowances Act 2001, Section 270EC.
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(1)This section applies if a person (the “seller”) sells the relevant interest in a building or structure, in respect of which qualifying expenditure has been incurred, to another person (the “purchaser”).
(2)Subsection (3) applies if the purchaser is entitled to an allowance in respect of qualifying expenditure incurred on the acquisition of the building or structure under Part 6 (research and development allowances).
(3)The total amount of the allowance available to the purchaser under this Part by reference to the building or structure is limited to—
(a)the amount of qualifying expenditure (within the meaning of section 270BA) incurred on the construction or acquisition of the building or structure, less
(b)the total of—
(i)the amount of the allowance under this Part to which an entitlement arose by reference to the building or structure before its sale (or would have arisen if the building or structure had been in continuous qualifying use since it was first brought into non-residential use), and
(ii)the amount of the allowance under Part 6 to which the purchaser is entitled in respect of qualifying expenditure incurred on the acquisition of the building or structure.
(and section 270AA(2)(b)(ii) is subject to this subsection).
(4)Subsection (5) applies if—
(a)the seller was entitled to an allowance in respect of qualifying expenditure incurred by the seller on the acquisition of the building or structure under Part 6 (research and development allowances), and
(b)the purchaser is not entitled to an allowance under that Part in respect of the qualifying expenditure incurred by the purchaser on the acquisition of the building or structure.
(5)The total amount of the allowance available to the purchaser is limited to the lower of—
(a)the amount which is equal to—
(i)the amount of qualifying expenditure (within the meaning of section 270BA) incurred on the construction or acquisition of the building or structure, less
(ii)the amount of the allowance under this Part to which an entitlement arose by reference to the building or structure before its sale (or would have arisen if the building or structure had been in continuous qualifying use since it was first brought into non-residential use), and
(b)the capital sum paid by the purchaser for the relevant interest.
(and section 270AA(2)(b)(ii) is subject to this subsection).
(6)Section 7 (no double allowances) is to be ignored for the purposes of determining the amounts referred to in subsections (3)(b)(i) and (ii) and (5)(a)(i) and (ii).]
Textual Amendments
F1Pt. 2A inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 2
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