Capital Allowances Act 2001 section 270HD

Mines, transport undertakings etc.

Section 270HD explains how structures and buildings allowances are given effect for persons whose qualifying activity is a mine, transport undertaking or similar concern.

• This section applies where the qualifying activity is a concern such as a mine, quarry or transport undertaking, as listed in the relevant income tax or corporation tax legislation.
• The structures and buildings allowance is treated as an expense of the concern when calculating its profits.
• The relevant legislative references are section 12(4) of ITTOIA 2005 for income tax purposes and section 39(4) of CTA 2009 for corporation tax purposes.
• This treatment ensures the allowance reduces the taxable profits of the concern in the same way as other deductible expenses.