Capital Allowances Act 2001 section 321

The relevant period of ownership

Section 321 defines the "relevant period of ownership" for the purposes of calculating balancing adjustments on industrial buildings.

• The relevant period of ownership is used in calculating balancing charges and allowances under sections 318 and 319.
• The period starts on the day the building was first used for any purpose.
• If the relevant interest in the building has been sold since it was first used, the period instead starts on the day after the most recent sale.
• The period always ends on the day the balancing event occurs.