C2.215 Expenditure allowed in computing income or profits
There is a general exclusion from the sums allowable as a deduction in the computation of a capital gain of any expenditure allowable as a deduction in computing the profits or losses of a trade, profession or vocation or allowable as a deduction in computing any other income, profits, gains or losses. The same exclusion applies to any expenditure which would have been allowable if there had been sufficient income, profits or gains. This provision applies regardless of how the deduction is given against others forms or income, for example it could be given by a deduction in computing the amount of tax payable1.
Structures and building allowance (SBA) expenditure
It is specifically provided that this provision does
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 15:24