[416ZA Ring fence trades: expenditure on site restoration]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[416ZA  Ring fence trades: expenditure on site restoration]

[(1)     If—

(a)     a person who is carrying on, or has ceased to carry on, a ring fence trade incurs expenditure on the restoration of a relevant site,

(b)     that part of the restoration work to which the expenditure relates has been carried out, and

(c)     the expenditure has not been deducted in calculating for tax purposes the profits of any trade carried on by the person,

the net cost of the restoration is qualifying expenditure for the relevant period in which that part of the work to which the expenditure relates was carried out.

(2)     “Relevant period” means—

(a)     in the case of restoration work carried out while the person is carrying on the trade, a chargeable period, and

(b)     in the case of restoration work carried out after the person has ceased to carry on the trade, a notional accounting period.

For the meaning of “notional accounting period”, see section 416ZB.

(3)     The qualifying

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