Commentary

D1.502 Election to deduct capital expenditure

Corporate tax
Corporate tax | Commentary

D1.502 Election to deduct capital expenditure

Corporate tax | Commentary

Deduction for capital expenditure

D1.502 Election to deduct capital expenditure

An election may be made by a company where1:

  1.  

    •     'qualifying land remediation expenditure' (see D1.503) is incurred by the company in respect of land (ie any estate, interest or rights in or over land) in the UK,

  2.  

    •     a major interest in the land is, or has been, acquired by the company for the purposes of a trade or UK property business carried on by it. A major interest is broadly either, the freehold or a relevant leasehold for a seven-year period2,

  3.  

    •     at the time of the

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial