Capital Allowances Act 2001 section 360A

Business premises renovation allowances

Section 360A introduces the business premises renovation allowances regime, setting out who is eligible to claim allowances and the basic conditions that must be met.

• Allowances are available where a person incurs qualifying expenditure on a qualifying building
• The claimant must be the person who actually incurred the expenditure
• The claimant must also hold the relevant interest in the qualifying building
• Both conditions — incurring the expenditure and holding the relevant interest — must be satisfied by the same person