[360B Meaning of “qualifying expenditure”]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[Chapter 2
Qualifying Expenditure]

[360B  Meaning of “qualifying expenditure”]

[[(1)     In this Part “qualifying expenditure” means capital expenditure incurred before the expiry date—

(a)     in respect of which Conditions A and B are met, and

(b)     which is not excluded by subsection (3), (3B) or (3D).]

(2)     In subsection (1) “the expiry date” means—

(a)     the fifth anniversary of the day appointed under section 92 of [FA] 2005, or

(b)     such later date as the Treasury may prescribe by regulations.

[(2A)     Condition A is that the expenditure is incurred on—

(a)     the conversion of a qualifying building into qualifying business premises,

(b)     the renovation of a qualifying building if it is or will be qualifying business premises, or

(c)     repairs to a qualifying building or, where the building is part of a building, to the building of which the qualifying building forms part, to the extent that the repairs are incidental to expenditure within paragraph (a) or (b).

(2B)

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