# Finance Act 2013, Paragraph 8


After section 33 insert—
“Cash basis: capital expenditure
33A (1) In calculating the profits of a trade on the cash basis, no deduction is allowed for items of a capital nature, other than expenditure that—
(a) if it were not allowable as a deduction in calculating the profits of the trade, would be qualifying expenditure within the meaning of Part 2 of CAA 2001 (plant and machinery allowances), and
(b) is not expenditure incurred on the provision of a car.
(2) In this section “car” has the same meaning as in Part 2 of CAA 2001 (see section 268A of that Act).”

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Source: https://www.legislation.gov.uk/ukpga/2013/29/schedule/4/paragraph/8 (the official version)
Page: https://openlegislation.uk/finance-act-2013/schedule-4/paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.