Capital Allowances Act 2001 section 300

Application of sections 295 and 296

Section 300 confirms that when an enterprise zone building is purchased (either unused or unused via a developer), the qualifying expenditure is treated as qualifying enterprise zone expenditure, provided all construction costs fell within the enterprise zone time limit.

• Applies where expenditure has been incurred on constructing a building in an enterprise zone (an "EZ building")
• All of the construction expenditure must have been incurred within the enterprise zone time limit defined in section 298
• If both conditions are met, qualifying expenditure determined under section 295 (purchase of an unused building without a developer) or section 296 (purchase of an unused building sold by a developer) counts as qualifying enterprise zone expenditure
• This ensures purchasers of unused EZ buildings benefit from the enhanced enterprise zone allowances, not just the original person who paid for construction