Section 39A — Taxation of Chargeable Gains Act 1992: Exclusion of certain expenditure: structures and buildings allowances

Exclusion of certain expenditure: structures and buildings allowances 39A 1 This section applies if—

a a person disposes of an asset to a connected person, b the asset is, or is an interest in, a building or structure by reference to which an allowance under Part 2A of CAA 2001 (a “structures and buildings allowance”) has been made, and c the person making the disposal is, or has been, a lessor in relation to a lease of the building or structure by reference to which section 270DD of CAA 2001 (leases granted for 35 years or more) applies.

2 Any expenditure by reference to which a structures and buildings allowance has been made to a lessee in relation to the lease mentioned in subsection (1)(c) is to be excluded from the sums allowable under section 38 as a deduction in the computation of the gain.