Section 360F Interest acquired on completion of conversionF1

For the purposes of determining the relevant interest in a qualifying building, a person who—

(a)

incurs expenditure on the conversion of a qualifying building into qualifying business premises, and

(b)

is entitled to an interest in the qualifying building on or as a result of the completion of the conversion,

is treated as having had that interest when the expenditure was incurred.

Annotations

F1: Pt. 3A inserted (11.4.2007 with effect in accordance with s. 92 of the amending Act) by Finance Act 2005 (c. 7), Sch. 6 para. 1; S.I. 2007/949, art. 2