416 [Non-ring fence trades: expenditure on restoration within 3 years of ceasing to trade]
Capital Allowances Act 2001 (2001 c 2) | Legislation

416  [Non-ring fence trades: expenditure on restoration within 3 years of ceasing to trade]

(1)     If—

(a)     a person who has ceased to carry on a [relevant] mineral extraction trade incurs expenditure on the restoration of a relevant site, and

(b)     the expenditure is incurred within 3 years from the last day of trading and meets the further conditions in subsection (3),

the net cost of the restoration is qualifying expenditure.

(2)     The qualifying expenditure is treated as incurred on the last day of trading.

(3)     The further conditions are that the expenditure—

(a)     has not been deducted in calculating for tax purposes

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