CA29320 - PMA: How allowances and charges are made: Trade, property business, furnished holiday lettings business, overseas property business, professions and vocations, mines, transport undertakings, investment company, employment or office

The details of the general rule are as follows:

Qualifying activity	PMA	Balancing charge	Legislation
Trade	treat as an as an expenses of the trade	treat as a receipt of the trade	CAA01/S247
Property business	treat as an expense of the business	treat as a receipt of the business	CAA01/S248
Furnished holiday lettings business	treat as an expense of the business	treat as a receipt of the business	CAA01/S249, (note ICTA88/S503 applies)
Overseas property business	treat as an expense of the business	treat as a receipt of the business	CAA01/S250
Profession or vocation	treat as an expense of the profession or vocation	treat as a receipt of the profession or vocation	CAA01/S251
Mines, transport undertakings	treat as an expense of the concern	treat as a receipt of the concern	CAA01/S252
Investment company	if possible deduct from any income for the period of the business, if there is an excess of allowances, add it to the company’s management expenses (see CTM08620), but allowances cannot be given in this way and in some other way on the same item of plant and machinery	treat as a income of the business	CAA01/S253
Employment or office	treat as an amount to be deducted from the earnings	treat as earnings	CAA01/S262