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Section 93 Capital receipts

(1)

Items of a capital nature must not be brought into account as receipts in calculating the profits of a trade.

(2)

But this does not apply to items which, as a result of any provision of the Corporation Tax Acts, are brought into account as receipts in calculating the profits of the trade.

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)