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Capital Allowances Act 2001

Section 5: When capital expenditure is incurred

54.This section is based on section 159 of CAA 1990. It determines the time when capital expenditure is incurred.

55.Section 159(3) to (6) of CAA 1990 is expressed in terms of the time an obligation to pay “becomes” unconditional. This section is expressed in terms of when there is first an unconditional obligation to pay. This responds to the question “what if the obligation was never conditional?” See Note 3 in Annex 2.

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