Related Commentary  Related HMRC Manuals

418(1)  The amount of the writing-down allowance to which a person is entitled for any chargeable period in respect of qualifying expenditure is–

(a)in the case of qualifying expenditure on the acquisition of a mineral asset, 10% of the amount by which UQE exceeds TDR;

(b)in the case of other qualifying expenditure, 25% of the amount by which UQE exceeds TDR.

418(2)  If the chargeable period is more or less than a year, the amount of the writing-down allowance is proportionately increased or reduced.

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