404 Exclusion of undeveloped market value of land
Capital Allowances Act 2001 (2001 c 2) | Legislation

404  Exclusion of undeveloped market value of land

(1)     If the mineral asset is an interest in land, so much of the buyer's expenditure on acquiring the asset as is equal to the undeveloped market value of the interest is not qualifying expenditure.

(2)     “The undeveloped market value of the interest” means the amount that, at the time of the acquisition, the interest might reasonably be expected to fetch

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