»Ê¹ÚÌåÓýapp

Budget 2007 announced a business tax reform package including the gradual withdrawal of IBAs and ABAs over four years. Legislation was introduced in FA08 to give effect to those changes. »Ê¹ÚÌåÓýapp phased withdrawal of IBA writing down allowances had effect for chargeable periods ending on or after 1 April 2008 for businesses within the charge to CT and 6 April 2008 for businesses within the charge to IT. »Ê¹ÚÌåÓýappre are no IBA writing down allowances for the financial year beginning on 1 April 2011 and subsequent years.

CAA01/S354

A person can claim IBA on an industrial building which is temporarily disused CA32800. If the last time the building was used it was used for a trade that has permanently ceased or it was let treat the person as carrying on a property business. You should then treat allowances as expenses and charges as receipts of that property business.

»Ê¹ÚÌåÓýappre is an additional rule where the last use of the building was for a trade that has permanently ceased. Treat charges as receipts of that trade purely in order to allow any deductions against them which you would allow against a post cessation receipt.