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HMRC internal manual

Capital Allowances Manual

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HM Revenue & Customs
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IBA: miscellaneous: enterprise zone property unit trusts

An enterprise zone property unit trust is a collective investment scheme that lets investors buy an interest in land or buildings in an enterprise zone.

Where the enterprise zone property unit trust invests in an industrial building it is the individual investors rather than the scheme itself who are entitled to the IBA. Similarly, it is the individual investors who are responsible for any balancing charge that may arise.

There is special legislation in CTA 2009/ Ss 972 and 973, CTA 2010 /Ss 621 and 622, ITA 2007/ Ss 504, 941, 943, 989 and 1007 (formerly ICTA88/S469) and in Regulations under the Income Tax (Definition of Unit Trust Scheme) Regulations 1988 (SI1988/267). See SAIM6150+ for guidance on enterprise zone Schemes.