Capital Allowances Act 2001 section 360D

Meaning of "qualifying business premises"

Section 360D defines what counts as "qualifying business premises" for the purposes of the business premises renovation allowance.

• Premises must be a qualifying building and must be used, or available and suitable for letting, for trade, professional, vocational, or office purposes
• Premises must not be used, or available for use, as a dwelling or as part of a dwelling
• If premises temporarily become unsuitable for qualifying use, they continue to be treated as qualifying business premises during that temporary period
• The Treasury has the power to make regulations providing further detail on when premises do or do not qualify