Section 7 When investment expenditure is incurredI1

United Kingdom

(1)

In determining for the purposes of this Act when a company has incurred investment expenditure—

(a)

F1... section 5 of CAA 2001 (when capital expenditure is incurred) applies as it applies for the purposes of that Act, and

F2(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

Any investment expenditure which is (or is treated as) incurred before 26 May 2022 or after F331 March F42030 is to be left out of account in determining a company’s levy profits or loss for any qualifying accounting period.

Annotations

Textual amendments

F1: Words in s. 7(1)(a) omitted (20.3.2025 with effect in relation to expenditure incurred on or after 1.11.2024) by virtue of Finance Act 2025 (c. 8), s. 16(4)(a)(6)
F2: S. 7(1)(b) omitted (20.3.2025 with effect in relation to expenditure incurred on or after 1.11.2024) by virtue of Finance Act 2025 (c. 8), s. 16(4)(b)(6)
F3: Words in s. 7(2) substituted (10.1.2023) by Finance Act 2023 (c. 1), s. 3(2)(a)
F4: Word in s. 7(2) substituted (20.3.2025) by Finance Act 2025 (c. 8), s. 17(2)(a)

Commencement

I1: S. 7 in force at Royal Assent