Capital Allowances Act 2001 section 393C

Meaning of "qualifying building"

Section 393C defines what constitutes a "qualifying building" for the purposes of structures and buildings allowances.

• A qualifying building is a building or structure that has been constructed through qualifying expenditure, meaning capital expenditure on its construction.
• The definition covers not only newly constructed buildings but also existing structures where qualifying expenditure has been incurred, for example on renovation or conversion works.
• The building must be used for a qualifying activity — broadly a trade, profession, vocation or other activity generating taxable income — to be eligible for structures and buildings allowances.
• The Finance Act 2012, Schedule 39, paragraph 37, made amendments to this section, updating the framework within which qualifying buildings are identified for allowance purposes.