Part 1 New Part 3A of the Capital Allowances Act 2001
Finance Act 2005 (2005 c 7) | Legislation

SCHEDULE 6 Capital Allowances: Renovation of Business Premises in Disadvantaged Areas

Section 92

Part 1 New Part 3A of the Capital Allowances Act 2001

1

After Part 3 of CAA 2001 insert—

“Part 3A
Business Premises Renovation Allowances
Chapter 1
Introduction
360A Business premises renovation allowances

(1)     Allowances are available under this Part if a person incurs qualifying expenditure in respect of a qualifying building.

(2)     Allowances under this Part are made to the person who—

(a)     incurred the expenditure, and

(b)     has the relevant interest in the qualifying building.

Chapter 2
Qualifying Expenditure
360B Meaning of “qualifying expenditureâ€

(1)     In this Part “qualifying expenditure†means capital expenditure incurred before the expiry date on, or in connection with—

(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 qualifying 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).

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

(a)     the

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