Capital Allowances Act 2001 section 270HC

Professions and vocations

Section 270HC explains how structures and buildings allowances are given effect for individuals carrying on a profession or vocation.

• Applies to persons whose qualifying activity is a profession or vocation
• The allowance is treated as an expense of the profession or vocation
• This treatment applies when calculating profits or gains of that profession or vocation
• The person must be entitled to the allowance for the relevant chargeable period