Section 373 Basic rule for calculating amount of allowanceF1
(1)
The basic rule is that the writing-down allowance for a chargeable period is 4% of the qualifying expenditure.
(2)
The allowance is proportionately increased or reduced if the chargeable period is more or less than a year.
Annotations
Textual amendments
- F1
Pt. 4 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 of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 84(2) (with Sch. 27)
Notes on Part 4
Modifications
- C1
Pt. 4 restricted (19.7.2007) by Finance Act 2007 (c. 11), s. 36(4)-(7)