Capital Allowances Act 2001 s 385

s 385 Calculation of balancing adjustment

(1) A balancing allowance is made if— (a) there are no proceeds from the balancing event, or (b) the proceeds from the balancing event are less than the residue of qualifying expenditure immediately before the event. (2) The amount of the balancing allowance is the amount of— (a) the residue (if there are no proceeds); (b) the difference (if the proceeds are less than the residue). (3) A balancing charge is made if the proceeds from the balancing event are more than the residue of qualifying expenditure immediately before the event. (4) The amount of the balancing charge is the amount of the difference.

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