| Capital Allowances Act 2001 |
| 2001 Chapter 2 - continued |
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| | PART 3 |
| | INDUSTRIAL BUILDINGS ALLOWANCES |
| | CHAPTER 1 |
| | INTRODUCTION |
| 271 | Industrial buildings allowances
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| | (1) Allowances are available under this Part if-
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| | (a) expenditure has been incurred on the construction of a building or structure, |
| | (b) the building or structure is (or, in the case of an initial allowance, is to be)- |
| | (i) in use for the purposes of a qualifying trade,
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| | (iii) a qualifying sports pavilion, or
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| | (iv) in relation to qualifying enterprise zone expenditure, a commercial building or structure, and
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| | (c) the expenditure incurred on the construction of the building or structure, or other expenditure, is qualifying expenditure. |
| | (2) In the rest of this Part-
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| | (a) "building" is short for "building or structure", and |
| | (b) "industrial building" means, subject to Chapter 2 (which defines terms used in subsection (1)(b) etc.), a building or structure which is within subsection (1)(b). |
| | (3) Allowances under this Part are made to the person who for the time being has the relevant interest in the building (see Chapter 3) in relation to the qualifying expenditure (see Chapter 4).
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| 272 | Expenditure on the construction of a building
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| | (1) For the purposes of this Part, expenditure on the construction of a building does not include expenditure on the acquisition of land or rights in or over land.
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| | (2) This Part has effect in relation to capital expenditure incurred by a person on repairs to a part of a building as if it were capital expenditure on the construction of that part of the building for the first time.
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| | (3) For the purposes of subsection (2), expenditure incurred for the purposes of a trade on repairs to a building is to be treated as capital expenditure if it is not expenditure that would be allowed to be deducted in calculating the profits of the trade for tax purposes.
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| 273 | Preparation of sites for plant or machinery
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| | (1) Subsection (2) applies if-
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| | (a) capital expenditure is or has been incurred in preparing, cutting, tunnelling or levelling land for the purposes of preparing the land as a site for the installation of plant or machinery, and |
| | (b) no allowance could (apart from this section) be made in respect of that expenditure under this Part or Part 2 (plant and machinery allowances). |
| | (2) This Part has effect in relation to the expenditure as if-
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| | (a) the purpose of incurring the expenditure were to prepare the land as a site for the construction of a building, and |
| | (b) the installed plant or machinery were a building. |
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