Corporation Tax Act 2009 (c. 4)

Part 3 U.K. Trading income

Modifications etc. (not altering text)

C1 Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)

Chapter 4 U.K. Trade profits: rules restricting deductions

53 Capital expenditure U.K.

(1) In calculating the profits of a trade, no deduction is allowed for items of a capital nature.

(2) Subsection (1) is subject to provision to the contrary in the Corporation Tax Acts.