# Capital Allowances Act 2001, Paragraph 93: Qualifying expenditure and unrelieved qualifying expenditure


(1) In this paragraph and paragraphs 94 to 101, “qualifying expenditure” means capital expenditure incurred before 1st April 1986 on the purchase of patent rights.
(2) The result of Steps 1 to 3 is the unrelieved qualifying expenditure for a chargeable period.
Step 1
Take an item of qualifying expenditure.
Step 2
Subtract any writing-down allowances made in respect of that expenditure for earlier chargeable periods.
Step 3
If the person who incurred the expenditure sold any part of the patent rights before the beginning of the chargeable period, subtract the net proceeds of sale (so far as they consist of capital sums).

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Source: https://www.legislation.gov.uk/ukpga/2001/2/schedule/3/paragraph/93 (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/schedule-3/paragraph-93
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.