Capital Allowances Act 2001 Chapter 1 — Introduction

361–363・3 provisions

Agricultural buildings allowances

361

(1) Allowances are available under this Part if— (a) capital expenditure has been incurred on the construction of a building (such as a farmhouse, farm building or cottage) or on the construction of fences or other works, (b) the expenditure was incurred— (i) by a person having a freehold or leasehold interest in land in the United Kingdom occupied wholly or mainly for the purposes of husbandry, and (ii) for the purposes of husbandry on that land, and (c) the expenditure, or other expenditure, is qualifying expenditure. (2) In this Part— (a) “ agricultural building ” means a building, fence or other works referred to in subsection (1)(a), and (b) “ the related agricultural land ” means the land referred to in subsection (1)(b). (3) Allowances under this Part are made to the person who for the time being has the relevant interest (see Chapter 2) in relation to the qualifying expenditure (see Chapter 3).

Meaning of “husbandry”

362

(1) In this Part “ husbandry ” includes— (a) any method of intensive rearing of livestock or fish on a commercial basis for the production of food for human consumption, and (b) the cultivation of short rotation coppice. (2) “ Short rotation coppice ” has the meaning given by section 1125(6) of CTA 2010 (meaning for corporation tax purposes: tree species planted at high density where stems harvested at intervals of less than 10 years).

Expenditure on the construction of a building

363

For the purposes of this Part, expenditure on the construction of a building does not include expenditure incurred on the acquisition of land or rights in or over land.

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