Part B3 Capital allowancesContents of Part B3B3.1 General provisions B3.2 Structures and buildingsB3.3 Plant and machinery B3.4 Mineral extraction [B3.5] [Deleted—Agricultural buildings] B3.6 Patent rights and know-how B3.7 Research and development B3.8 Dredging B3.9 Assured tenancies B3.10 Flat conversions B3.11 Business premises renovationDivision B3.1 General provisionsFor updates affecting this Division please see Part B0 UpdatesCapital allowancesB3.101 Capital allowances—overview[For additional key resources on this topic see 'Capital allowances—related content' below.]In calculating the profits of a trade, profession, vocation or property business no deduction can be made for expenditure of a capital nature1. The distinction between revenue and capital expenditure is discussed at length in B2.304–B2.309, but in general expenditure on the provision of a fixed asset will be of a capital nature and will not be allowed as a deduction. The same principle applies to
Contents of Part B3
B3.1 General provisions
B3.2 Structures and buildings
B3.3 Plant and machinery
B3.4 Mineral extraction
[B3.5] [Deleted—Agricultural buildings]
B3.6 Patent rights and know-how
B3.7 Research and development
B3.8 Dredging
B3.9 Assured tenancies
B3.10 Flat conversions
B3.11 Business premises renovation
For updates affecting this Division please see Part B0 Updates
[For additional key resources on this topic see 'Capital allowances—related content' below.]
In calculating the profits of a trade, profession, vocation or property business no deduction can be made for expenditure of a capital nature1. The distinction between revenue and capital expenditure is discussed at length in B2.304–B2.309, but in general expenditure on the provision of a fixed asset will be of a capital nature and will not be allowed as a deduction. The same principle applies to
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