Taxes Consolidation Act 1997 Schedule 32 paragraph 10

Allowance for Certain Capital Expenditure on Roads, Bridges, etc

Schedule 32, paragraph 10 provides capital expenditure allowances for persons who incur expenditure on toll road projects under agreements with road authorities.

• Capital expenditure on toll roads under agreements with a road authority qualifies for allowances of up to 50 per cent (pre-6 April 1987 agreements) or 100 per cent (agreements from 6 April 1987 onwards), with the latter also covering borrowing interest.
• The qualifying period runs from 29 January 1981 to 31 March 1989 for earlier agreements, or to 31 March 1992 for agreements entered into on or after 6 April 1987.
• Allowances may only be set against income arising from the same toll road agreement and, where insufficient income exists, unused amounts carry forward to succeeding chargeable periods.
• Any question arising under the paragraph may be appealed to the Appeal Commissioners in the same manner as an appeal against an income tax or corporation tax assessment.