Capital Allowances Act 2001 section 507

Entitlement to writing-down allowance

Section 507 sets out the conditions that must be met for a person to claim a writing-down allowance in respect of qualifying expenditure on a building containing one or more qualifying dwelling-houses.

• Qualifying expenditure must have been incurred on a building, and the claimant must be or have been an approved body.
• At the end of the chargeable period, the claimant must hold the relevant interest in the building.
• At the end of the chargeable period, the building must be or include at least one qualifying dwelling-house.
• The claimant may elect to receive a reduced writing-down allowance rather than the full amount available.