Explanatory Notes

Capital Allowances Act 2001

2001 CHAPTER 2

22nd March 2001

Commentary on Sections

Glossary

Part 5: Mineral extraction allowances

Chapter 7: Supplementary provisions

Section 434: Time when expenditure incurred

1484. This section is based on section 120(1) of CAA 1990.

1485. Subsection (2) avoids duplication that exists in CAA 1990 as to the time at which the qualifying expenditure is treated as incurred. See Note 51 in Annex 2.