Section 270BE Sale by a developer: used buildings or structuresF1
(1)
This section applies if—
(a)
expenditure is incurred by a developer on the construction of a building or structure, and
(b)
the relevant interest is sold by the developer in the course of the development trade after the building or structure has been used.
(2)
This Part has effect in relation to the person to whom the relevant interest is sold (and any person who subsequently acquires the relevant interest) as if the expenditure on the construction of the building or structure had been qualifying capital expenditure.
Annotations
Textual amendments
- F1
Pt. 2A inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 2