Capital Allowances Act 2001 section 494

Introduction

Section 494 introduces the chapter that identifies the "relevant interest" in a building and in any qualifying dwelling-house within that building, where a person has spent money on constructing the building.

• This chapter applies where a person has incurred expenditure on constructing a building that is to be, or include, a qualifying dwelling-house.
• The chapter first identifies the relevant interest in the building itself.
• It then identifies the relevant interest in any dwelling-house comprised in that building.
• A building may contain more than one qualifying dwelling-house, each with its own relevant interest.