# Capital Allowances Act 2001, Section 252: Mines, transport undertakings etc.

Extent: E+W+S+N.I.

If the qualifying activity of a person who is entitled or liable to an allowance or charge for a chargeable period is a concern listed in section 12(4) of ITTOIA 2005 or section 39(4) of CTA 2009 (mines, transport undertakings etc.) the allowance or charge is to be given effect in calculating the profits of the concern under Chapter 2 of Part 2 of ITTOIA 2005 or, as the case may be, under Case I of Schedule D, by treating—
(a) the allowance as an expense of the concern, and
(b) the charge as a receipt of the concern.

---
Source: https://www.legislation.gov.uk/ukpga/2001/2/section/252 (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/section-252
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.