Commentary

B3.114 Capital allowances―exclusion of double allowances

Business tax
Business tax | Commentary

B3.114 Capital allowances―exclusion of double allowances

Business tax | Commentary

B3.114 Capital allowances―exclusion of double allowances

Where allowances have been made under one particular code to a person in respect of capital expenditure, that person cannot receive allowances under any other code either:

  1.  

    (a)     in respect of that expenditure, or

  2.  

    (b)     in relation to the provision of any asset to which that expenditure related1

In these provisions, 'capital expenditure' includes any contribution to capital expenditure2. Expenditure 'relates to' an asset only if it relates to its provision and the provision of an asset includes its construction or acquisition3.

Capital expenditure also includes expenditure treated as capital expenditure for the purposes of the

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