CA39430 - IBA: How allowances and charges are made: Buildings temporarily out of use

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.

There 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.