Section 53 Capital expenditure
(1)
In calculating the profits of a trade, no deduction is allowed for items of a capital nature.
(2)
Subsection (1) is subject to provision to the contrary in the Corporation Tax Acts.
Notes on Part 3
Modifications
- C1
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)