C1Part 2 Plant and machinery allowances
Annotations:
Modifications etc. (not altering text)
Chapter 19 Giving effect to allowances and charges
Trades
247 Trades
If the qualifying activity of a person who is entitled or liable to an allowance or charge for a chargeable period is a trade, the allowance or charge is to be given effect in calculating the profits of that person’s trade, by treating—
a
the allowance as an expense of the trade, and
b
the charge as a receipt of the trade.
Pt. 2 modified (24.2.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 10 para. 12 (with Sch. 10 para. 17(1)); S.I. 2003/120, art. 2, Sch. (with arts. 34) (as amended (20.2.2003) by S.I. 2003/333, art. 14)