1643.This section provides interpretative material about the meaning of “expenditure”. It is new. See Change 98 in Annex 1.
1644.Subsection (1) makes it clear that “expenditure” includes expenditure on the acquisition of capital assets. But expenditure on assets qualifying for capital allowances is taken account of in determining, for example, a trading loss and so is not included in expenditure within section 543(1)(f).
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