CG15403 - Capital allowances: meaning of
Section 52(5) of the Taxation of Chargeable Gains Act (TCGA) 1992 and section 41(4) TCGA 1992
For the purposes of the computational changes referred to in CG15400 'capital allowances' means
- any allowance under the Capital Allowances Act 2001 (including the provisions of the Income and Corporation Taxes Act (ICTA)1988 which are to be treated as contained in the Capital Allowances Act 2001) other than an allowance under section 33(1) ICTA 1988 (relief for the cost of maintenance of agricultural land), or
- any relief given under section 30 ICTA 1988 (expenditure on sea walls), or
- any deduction in computing profits or gains allowable under section 91 ICTA 1988 (cemeteries).