{
  "url": "https://openlegislation.uk/capital-allowances-act-2001/section-316",
  "json_url": "https://openlegislation.uk/capital-allowances-act-2001/section-316.json",
  "legislation": "ukpga/2001/2",
  "legislation_title": "Capital Allowances Act 2001",
  "legislation_url": "https://openlegislation.uk/capital-allowances-act-2001",
  "path": "section/316",
  "kind": "section",
  "number": "316",
  "heading": "Proceeds from main balancing events",
  "text": "(1) References in this Part to the proceeds from a balancing event within section 315(1) are to the amounts received or receivable in connection with the event, as shown in the Table—\nTable\nBalancing events and proceeds\n1. Balancing event\n2. Proceeds from event\n1. The sale of the relevant interest.\nThe net proceeds of the sale.\n2. The demolition or destruction of the building.\nThe net amount received for the remains of the building, together with—\n(a) any insurance money received in respect of the demolition or destruction, and\n(b) any other compensation of any description so received, so far as it consists of capital sums.\n3. The building ceases altogether to be used.\nAny compensation of any description received in respect of the event, so far as it consists of capital sums.\n4. A foreign concession ends.\nAny compensation payable in respect of the relevant interest.\n(2) The amounts referred to in column 2 of the Table are those received or receivable by the person whose entitlement to a balancing allowance or liability to a balancing charge is in question.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 3 omitted (with effect in relation to chargeable periods beginning on or after 1.4.2011 for corporation tax purposes and 6.4.2011 for income tax purposes in accordance with ss. 84(1)(3)(4), 85, 86 of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 84(2) (with Sch. 27)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2001/2/section/316",
    "retrieved_at": "2026-10-29T09:20:17.739129+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}