Related Commentary  Related HMRC Manuals

315(1)  This section applies if in a tax year a person–

(a)is the owner or tenant of any premises, and

(b)incurs expenditure in making a sea wall or other embankment necessary for the preservation or protection of the premises against the encroachment or overflowing of the sea or any tidal river.

315(2)  In calculating the profits of any property business carried on by the person in relation to the premises, a deduction is allowed for the expenditure in each tax year in the deduction period.

315(3)  The deduction period comprises–

(a)the tax year in which the expenditure is incurred, and

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