Link Report

“relevant interest” has the same meaning as in section 269;

(a) where a property developer is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure, and

(c) section 279 shall not apply in the case of any person who buys the relevant interest (within the meaning of section 269) in the building or structure.

(c) section 279 shall not apply in the case of any person who buys the relevant interest (within the meaning of section 269) in the building or structure.

(a) a property developer, or a person who is connected (within the meaning of section 10) with the property developer is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure, and

(a) a property developer, or a person who is connected (within the meaning of section 10) with the property developer is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure, and

(i) where a property developer is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure, and

(ab) in respect of expenditure incurred on or after 6 April 2001 on the construction or refurbishment of a building or structure or a qualifying premises unless the relevant interest, within the meaning of section 269, in such expenditure is held by a small or mediumsized enterprise within the meaning of Annex I to Commission Regulation (EC) No. 70/2001 of 12 January 2001¹, or, as the case may be, by a micro, small or medium-sized enterprise within the meaning of the Annex to Commission Recommendation of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises²

(b) in respect of expenditure incurred on the construction or refurbishment of a building or structure or a qualifying premises where such building or structure or premises is in use for the purposes of a trade, or any activity treated as a trade, carried on by the person who is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure and such trade or activity is carried on wholly or mainly—

(a) (i) where a property developer or a person who is connected (within the meaning of section 10) with the property developer is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure, and

(d) where the person who is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure is subject to an outstanding recovery order following a previous decision of the Commission of the European Communities declaring aid in favour of that person to be illegal and incompatible with the common market.

(i) where a property developer is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure, and

(b) in respect of expenditure incurred on the construction or refurbishment of a building or structure or a qualifying premises where such building or structure or premises is in use for the purposes of a trade, or any activity treated as a trade, carried on by the person who is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure and such trade or activity is carried on wholly or mainly—

(i) where a property developer is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure, and

(b) in respect of expenditure incurred on the construction or refurbishment of a building or structure or qualifying premises where such building or structure or premises is in use for the purposes of a trade, or any activity treated as a trade, carried on by the person who is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure and such trade or activity is carried on wholly or mainly—

(a) where a property developer is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure, and

(a) where a property developer is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure, and

“relevant interest” has the same meaning as in section 269;

“tax life”, in relation to a building or structure, means the appropriate period referred to in section 272(4) in respect of that building or structure, after the end of which period no capital allowance may be made following the disposal of the relevant interest (within the meaning of section 269) in that building or structure;

(a) where a property developer or a person who is connected (within the meaning of section 10) with the property developer is entitled to the relevant interest, within the meaning of section 269, in that qualifying expenditure, and