Capital Allowances Act 2001 section 523

Introduction

Section 523 introduces how qualifying expenditure attributable to a dwelling-house is written off for the purposes of this Part of the Act.

• Qualifying expenditure linked to a dwelling-house is written off over time in accordance with the rules set out in this Chapter.
• The amount and timing of the write-off are specifically prescribed by the Chapter's provisions.
• The residue of qualifying expenditure changes depending on the point in time at which it is calculated.
• To determine the residue at any given time, you start with the original qualifying expenditure for the dwelling-house and apply any adjustments required by the Chapter up to that point.