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Capital Allowances Act 2001

Section 468: Qualifying trade expenditure

1662.This section is based on sections 520(1), (2)(a) and (3), 528(1) and 532(1) of ICTA and section 161(3) of CAA 1990. It defines “qualifying trade expenditure”.

1663.Subsection (1) incorporates the effect of section 161(3) of CAA 1990. See Note 74 in Annex 2.

1664.Subsection (2) prevents capital allowances being given more than once on the same qualifying expenditure. This is to make the point explicit. See Note 59 in Annex 2.

1665.Subsection (3) treats qualifying expenditure incurred before the trade starts as if it was incurred when the trade starts.

1666.Subsection (4) prevents subsection (3) applying if a person sells all of the patent rights before the trade starts.

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