# Capital Allowances Act 2001, Section 360N: Balancing events


(1) The following are balancing events for the purposes of this Part—
(a) the relevant interest in the qualifying building is sold;
(b) a long lease of the qualifying building is granted out of the relevant interest in consideration of the payment of a capital sum;
(c) if the relevant interest is a lease, the lease ends otherwise than on the person entitled to it acquiring the interest reversionary on it;
(d) the person who incurred the qualifying expenditure dies;
(e) the qualifying building is demolished or destroyed;
(f) the qualifying building ceases to be qualifying business premises (without being demolished or destroyed).
(2) Section 360I(2) and (3) (meaning of “long lease”) applies for the purposes of subsection (1)(b).

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