Commentary

B3.804 Pre-trading expenditure

Business tax
Business tax | Commentary

B3.804 Pre-trading expenditure

Business tax | Commentary

B3.804 Pre-trading expenditure

The general rule is that where expenditure is incurred with a view to carrying on a trade or part of a trade, the expenditure is deemed to be incurred on the first day on which the trade or part of a trade is carried on1.

Where the trade does not consist of the maintenance or improvement of the navigation of a harbour, estuary or waterway (but qualifies for the purposes of the industrial buildings allowances (see B3.280)), and expenditure is incurred in connection with a dock or other premises with a view to the

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