Commentary

B3.1117 Giving effect to allowances and charges

Business tax
Business tax | Commentary

B3.1117 Giving effect to allowances and charges

Business tax | Commentary

B3.1117 Giving effect to allowances and charges

In the case of profits from a trade, an allowance is to be treated as an expense of the trade, and a charge as a receipt of the trade1.

In the case of a person who is entitled to an allowance or liable to a charge in respect of a qualifying building and who occupies that building in the course of a profession or vocation, the allowance is to be treated as an expense, the charge as a receipt, of that profession or vocation2.

Further provisions deal with the position of lessors and licensees and

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