Commentary

B3.325 General exclusions—first-year qualifying expenditure

Business tax
Business tax | Commentary

B3.325 General exclusions—first-year qualifying expenditure

Business tax | Commentary

B3.325 General exclusions—first-year qualifying expenditure

Expenditure within any of the general exclusions listed below is not first-year qualifying expenditure under any of the categories described in B3.324–B3.324GA1, subject to the exceptions noted below. The general exclusions are as follows2.

General exclusion 1

The expenditure is incurred in the chargeable period in which the qualifying activity is permanently discontinued.

General exclusion 2

The expenditure is incurred on the provision of a car (as defined by CAA 2001, s 268A; see B3.342), unless it is a car with low carbon dioxide emissions within the provisions described in B3.324A3.

General exclusions 3–5

These exclusions are now

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