Capital Allowances Act 2001 (c. 2)

Modifications etc. (not altering text)

C1 S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7

Part 6 U.K. Research and development allowances

Chapter 5 U.K. Supplementary provisions

450 Giving effect to allowances and charges U.K.

An allowance or charge to which a person is entitled or liable under this Part for a chargeable period is to be given effect in calculating the profits of the relevant trade, by treating—

(a) the allowance as an expense of the trade, and

(b) the charge as a receipt of the trade.