Where the building ceases to be used or where the interest is sold, there is a balancing allowance or balancing charge if the tax written down value is less time or greater than respectively down the proceeds of sale (insurance or other consideration. Where it was not used in a particular year or for a particular period, there is a notional write-down. Account is not taken of this. The balancing allowance or balancing charge should relate to the allowances actually allowed.<\/p>\n
Where the building is purchased during the course of its 25 year or other allowance period, the purchaser may claim capital allowances for the tax written down amount plus or less a balancing charge or allowance to the vendor. This is allowed over the balance of the period. The tax written down amount would reflect the original allowances for construction or refurbishment as proportionately reduced during the part of the tax life concerned. No balancing allowance or charge arises after the tax life has expired.<\/p>\n
The landlord may be entitled to the allowances provided the relevant conditions are complied with. It must be the owner of the relevant interest. The building must in fact be in use as an industrial building, in effect by the tenant.<\/p>\n\n
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Industrial Buildings Capital allowances are available in relation to the construction of an industrial building. An industrial building is a factory mill or similar premises. Parts of the building not so used are excluded including for example, offices showrooms and retail premises within an industrial building (if they exceed 10% of total cost). In the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[398],"tags":[],"_links":{"self":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/11056"}],"collection":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/comments?post=11056"}],"version-history":[{"count":1,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/11056\/revisions"}],"predecessor-version":[{"id":11057,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/11056\/revisions\/11057"}],"wp:attachment":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/media?parent=11056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/categories?post=11056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/tags?post=11056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}