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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Computation: interaction with other taxes: IT: exclusion of expenditure

TCGA92/S39Any sum which has been deducted in computing income or profits, or would have been so deducted if there had been sufficient income or profits, is not allowable as a deduction for Capital Gains Tax purposes. Special rules apply to expenditure which has qualified for capital allowances or renewals allowances, see CG15410.