Capital Allowances Act 2001 section 540

Agricultural buildings

Section 540 deals with the treatment of capital allowances when a landlord's relevant interest in an agricultural building is transferred, applying the rules from Part 4 (agricultural buildings allowances) rather than Part 3 (industrial buildings allowances).

• This section mirrors the rules in section 539 but applies specifically to agricultural buildings rather than industrial buildings.
• When a landlord's relevant interest in an agricultural building is transferred, the allowance provisions of Part 4 apply instead of those under Part 3.
• The section ensures that the correct set of capital allowance rules governs the transfer depending on the type of building involved.
• A transitional provision preserves the effect of earlier legislation relating to contributions made before 27 July 1989.