SCHEDULE 5 Structures and Buildings Allowances
Finance Act 2020 (2020 c 14) | Legislation

SCHEDULE 5 Structures and Buildings Allowances

Section 30

Introduction

1

CAA 2001 is amended as follows.

Research and development allowances

2

In Part 2A (structures and buildings allowances), for section 270EC substitute—

“270EC Research and development

(1)     This section applies if, at any time, a person sells the relevant interest in a building or structure to another.

(2)     The total amount of the allowances under this Part by reference to the building or structure that is available to the person buying the relevant interest is reduced (but not below nil) by the amount of any Part 6 allowance to which the person is entitled by reference to the building or structure.

(3)     There is another restriction on the total amount of those allowances which applies if—

(a)     the sale in question, or a sale of the relevant interest at an earlier time, is by a person entitled to a Part 6 allowance by reference to the building or structure, and

(b)     the amount paid for the relevant interest on any of those sales is less than the ordinary Part 2A amount (see subsection (6)).

(4)

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