# Capital Allowances Act 2001, Section 450: Giving effect to allowances and charges

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

(1) An allowance or charge to which a person is entitled or liable under this Part for a chargeable period is to be given effect in calculating the profits of the relevant trade, by treating—
(a) the allowance as an expense of the trade, and
(b) the charge as a receipt of the trade.
(2) This section is subject to section 6E (giving effect to allowances and charges: NI rate activity cases).

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Source: https://www.legislation.gov.uk/ukpga/2001/2/section/450 (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/section-450
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.