# Capital Allowances Act 2001, Section 463: Giving effect to allowances and charges


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 trade, by treating—
(a) the allowance as an expense of the trade, and
(b) the charge as a receipt of the trade.

---
Source: https://www.legislation.gov.uk/ukpga/2001/2/section/463 (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/section-463
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.