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Bostock & others v. Totham (Inspector of Taxes) [1997] STC 764 (Ch D)

Enterprise zones, Industrial Buildings Allowance. Section 21(1) CAA 1990.Where an enterprise zone building was purchased after first use, and the purchaser claimed industrial buildings allowance for the purchase price of the property, only the “building” element of the net purchase price paid, as opposed to the “land” element, qualified for allowances. The disallowable “land” element is to be found by a just apportionment of the price between the two elements; in this case, it was just to apportion pro rata to the value of the bare land and the construction cost of an equivalent new building as valued at the purchase date.John Walters KC and Conrad McDonnell appeared for the taxpayer

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