30 Construction expenditure on buildings and structures
Finance Act 2019 (2019 c 1) | Legislation

Capital allowances

30  Construction expenditure on buildings and structures

(1)     The Treasury may by regulations amend CAA 2001 so as to provide for allowances under that Act to be available where—

(a)     expenditure has been incurred, on or after 29 October 2018, on the construction of a building,

(b)     the building is in qualifying use, and

(c)     the expenditure incurred on the construction of the building, or other expenditure, is qualifying expenditure.

(2)     Regulations under this section (“the regulations”) must—

(a)     specify what is qualifying use;

(b)     specify what is qualifying expenditure;

(c)     provide for a writing-down allowance to be available at an annual rate of 2% of the qualifying expenditure;

(d)     specify the persons to whom allowances may be made;

(e)     make provision about how effect is to be given to allowances.

(3)     The regulations must secure that—

(a)     allowances

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