CA94610 - Structures and buildings allowance (SBA): evidence requirement: allowance statement requirement

CAA01/S270IA(1)-(3)

The relevant interest may change hands, perhaps several times, during the 33 1/3 year period starting with the first qualifying use of the building.

If the current owner of the relevant interest in a building is entitled to claim an allowance for a chargeable period, the amount of qualifying expenditure on which that allowance is based will be treated as nil unless, before the current owner first makes a claim for SBA, the ‘allowance statement requirement’ is met.

To satisfy the requirement, an allowance statement CA94650 must be created and maintained before any claim to SBA is made.

Where the current owner incurred the qualifying expenditure in relation to the building, the current owner creates the allowance statement.

Where the current owner acquired the relevant interest in the building from another person, they must obtain the allowance statement from a previous owner.