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Chapter CA93410

Document Cited in Related
Vincent
Published date16 April 2016
Record NumberCA93410
CAA01/S270BB

Where a person incurs the costs of constructing a building, either directly, or through hiring a building contractor, if they hold the relevant interest when that building is brought into use for the first time, the capital expenditure they incurred on the construction of the building is ‘qualifying capital expenditure’.

In other words, the capital expenditure incurred on construction is qualifying capital expenditure if the relevant interest in that building has either:

  • not been sold
  • been sold, but only after the building has been brought into non-residential use.

This construction cost will be the amount of qualifying expenditure for each subsequent holder of that relevant interest. See example in CA91400.

Expenditure on renovation or conversion, or on repairs that are incidental to a renovation or conversion, is treated as if it were expenditure on the construction of a building for the first time CA93200.

Fitting out works

Capital fitting out costs will...

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