Commentary

A1.157 Income, gains and deductions

Administration and compliance

A1.157 Income, gains and deductions

A1.157 Income, gains and deductions

These definitions do not apply if the context otherwise requires. Phrases defined elsewhere in this article are indicated in italic type.

'Allowable loss' for capital gains and corporation tax purposes has the meaning given by TCGA 1992, ss 8(2) (now TCGA 1992, s 2A(2)), 16, 16A, 261B, 261D and 263ZA1: see C1.501.

'Capital allowance' for income tax and corporation tax purposes means any allowance under CAA 2001, including any enactments which are treated as contained in that Act2.

'Chargeable gain' means every gain, except as otherwise expressly provided3.

'Qualifying charitable donations' for corporation tax purposes has the meaning given

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