# Capital Allowances Act 2001, Section 360J: Amount of allowance


(1) The writing-down allowance for a chargeable period is 25% of the qualifying expenditure.
(2) The allowance is proportionately increased or reduced if the chargeable period is more or less than a year.
(3) The amount of the writing-down allowance for a chargeable period is limited to the residue of qualifying expenditure.
(4) For this purpose the residue is ascertained immediately before writing off the writing-down allowance at the end of the chargeable period.

---
Source: https://www.legislation.gov.uk/ukpga/2001/2/section/360J (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/section-360J
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.