Industrial Building Allowances were abolished from 1 April 2011 for corporation tax purposes and 6 April 2011 for income tax purposes (FA 2008, s. 84 and sch. 27). The commentary below explains the rules as they applied before they were repealed.

When an EZ building is bought after it has first been used, the tax treatment depends on whether or not the transaction takes place within two years of first use. In all cases, it should be remembered that the general withdrawal of balancing adjustments from 21 March 2007 does not apply for expenditure in enterprise zones.

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