# Capital Allowances Act 2001, Section 426: Pre-trading expenditure


A person’s entitlement to an allowance for a chargeable period is to a balancing allowance if—
(a) the expenditure is qualifying expenditure under—
(i) section 401(4) (pre-trading exploration expenditure where exploration etc. has ceased before first day of trading), or
(ii) section 402 (pre-trading expenditure on plant or machinery), and
(b) the first day of trading occurs in that chargeable period.

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Source: https://www.legislation.gov.uk/ukpga/2001/2/section/426 (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/section-426
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.