Section 887: General rule
2250.This section gives a general rule to define when expenditure on acquisition of an asset is incurred for the purposes of section 883 and, ultimately, section 882. It is based on paragraph 123 of Schedule 29 to FA 2002.
2251.The general rule in subsection (1) is subject to two qualifications to which subsection (2) gives a signpost and which limit any conflict with pre-FA 2002 timing rules for capital gains and capital allowances.