Dredging allowances are either writing-down allowances or balancing allowances. There are no balancing charges.
Writing-down allowances
A person (P) is entitled to a writing-down allowance for a chargeable period if:
- Ìý
•ÌýÌýÌýÌý qualifying expenditure has been incurred on dredging
- Ìý
•ÌýÌýÌýÌý at any time in the chargeable period P is carrying on the qualifying trade for which the expenditure was incurred1, and
- Ìý
•ÌýÌýÌýÌý that time is within the writing-down period
The writing-down period is the 25 years beginning with the first day of the chargeable period in which the qualifying expenditure was incurred2.
The writing-down allowance is four per cent of the expenditure3.
Where a chargeable period is more or less than one year, the amount of the writing-down allowance is increased or reduced proportionately4.
A person who claims a writing-down allowance may claim to reduce it to a specified amount5. Unless
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Web page updated on 17 Mar 2025 16:14