Capital Allowances Act 2001 section 372

Entitlement to writing-down allowance

Section 372 sets out the conditions under which a person is entitled to claim a writing-down allowance in respect of qualifying expenditure, and defines the writing-down period over which such allowances may be claimed.

• A writing-down allowance is available where qualifying expenditure has been incurred and the person holds the relevant interest during the chargeable period, provided this falls within the writing-down period.
• The writing-down period runs for 25 years, starting from the first day of the chargeable period in which the qualifying expenditure was incurred.
• The person claiming the allowance may choose to reduce the amount claimed to a specified lower figure, rather than claiming the full entitlement.
• Entitlement depends on a combination of expenditure, interest and timing conditions all being satisfied for the chargeable period in question.