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Capital Allowances Act 2001
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426Pre-trading expenditure
This section has no associated Explanatory Notes
A person’s entitlement to an allowance for a chargeable period is to a balancing allowance if—
(a)the expenditure is qualifying expenditure under—
(i)section 401(4) (pre-trading exploration expenditure where exploration etc. has ceased before first day of trading), or
(ii)section 402 (pre-trading expenditure on plant or machinery), and
(b)the first day of trading occurs in that chargeable period.
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