Capital Allowances Act 2001 section 293

Meaning of references to carrying on a trade as a developer

Section 293 defines what it means to carry on a trade as a "developer" and when a sale of an interest in a building counts as being made in the course of that development trade.

• A developer is someone whose trade consists wholly or partly of constructing buildings with the intention of selling them.
• The definition covers both full-time developers and those for whom building construction for sale is only part of their wider trade.
• A sale of an interest in a building is treated as made in the course of the development trade if the developer sells it as part of the construction-for-sale element of their business.
• These definitions apply throughout the chapter dealing with capital allowances relevant to developers of buildings.