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Capital Allowances Act 2001

Status:

This is the original version (as it was originally enacted).

455Excluded expenditure

This section has no associated Explanatory Notes

(1)Expenditure on the acquisition of know-how is not qualifying expenditure to the extent that it is otherwise deducted for tax purposes.

(2)Expenditure on the acquisition of know-how is not qualifying expenditure if—

(a)the buyer is a body of persons over whom the seller has control,

(b)the seller is a body of persons over whom the buyer has control, or

(c)the buyer and the seller are both bodies of persons and another person has control over both of them.

(3)In subsection (2) “body of persons” includes a partnership.

(4)Expenditure on the acquisition of know-how is not qualifying expenditure if it is treated as a payment for goodwill under section 531(2) of ICTA (consideration for know-how on disposal of trade to be treated as payment for goodwill, unless parties otherwise elect etc.).

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