14PTime at which allowance is to be calculated

#### 14P Time at which allowance is to be calculated 14P Time at which allowance is to be calculated > An allowance for profitable expenditure is to be ascertained in relation to a rating or taxing authority— > > > (a) as at the 1 July by reference to which the land was valued for the purposes of the valuation list for that authority current at the time the land became eligible for the allowance, and > > > (b) as at the 1 July by reference to which the land has been valued for the purposes of any subsequent valuation list for that authority. > > **s 14N–14R:** Ins 2000 No 106, Sch 1 \[14\].