s 360O Proceeds from balancing events
(1) References in this Part to the proceeds from a balancing event are to the amounts received or receivable in connection with the event, as shown in the Table— TABLE: BALANCING EVENTS AND PROCEEDS If the capital sum paid in consideration of the grant is less than the commercial premium, the commercial premium. In any other case, the capital sum paid in consideration of the grant. The net amount received for the remains of the qualifying building, together with any insurance money received in respect of the demolition or destruction, and any other compensation of any description so received, so far as it consists of capital sums. (2) The amounts referred to in column 2 of the Table are those received or receivable by the person who incurred the qualifying expenditure. (3) In Item 2 of the Table “ the commercial premium ” means the premium that would have been given if the transaction had been at arm's length.