# Finance Act 2003, Paragraph 9: Meaning of “refurbishment” and “the permitted amount”


(1) “Refurbishment”of a dwelling means the carrying out of works that enhance or are intended to enhance the value of the dwelling, but does not include—
(a) cleaning the dwelling, or
(b) works required solely for the purpose of ensuring that the dwelling meets minimum safety standards.
(2) The “permitted amount”, in relation to the refurbishment of a dwelling, is—
(a) 10,000, or
(b) 5% of the consideration for the acquisition of the dwelling,
whichever is the greater, but subject to a maximum of £20,000.

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Source: https://www.legislation.gov.uk/ukpga/2003/14/schedule/6A/paragraph/9 (the official version)
Page: https://openlegislation.uk/finance-act-2003/schedule-6A/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.