75. Capital expenditure and capital sums.

In the Capital Allowances Act 2001, 'capital expenditure' and 'capital sums' are used in the sense given below1. 'Capital expenditure' and 'capital sums' do not include:


    (1)     in relation to the person incurring the expenditure or paying the sums:


      (a)     any expenditure or sum that may be deducted in calculating the profits or gains of a trade, profession or vocation2 or property business3 carried on by the person;


      (b)     any cash basis expenditure, other than expenditure incurred on the provision of a car; and


      (c)     any expenditure or sum that may be allowed as a deduction under a relevant