# Capital Allowances Act 2001, Section 513: When balancing adjustments are made


(1) A balancing adjustment is made if—
(a) qualifying expenditure has been incurred on a building, and
(b) a balancing event occurs in relation to a dwelling-house comprised in the building while it is a qualifying dwelling-house.
(2) A balancing adjustment is either a balancing allowance or a balancing charge and is made for the chargeable period in which the balancing event occurs.
(3) A balancing allowance or balancing charge is made to or on the person entitled to the relevant interest in the dwelling-house immediately before the balancing event.
(4) No balancing adjustment is made if the balancing event occurs more than 25 years after the dwelling-house was first used.

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Source: https://www.legislation.gov.uk/ukpga/2001/2/section/513 (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/section-513
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.