# Income Tax Act 2007, Section 545: Section 543(1)(f): meaning of expenditure


(1) For the purposes of section 543(1)(f) “expenditure” includes expenditure of a capital nature.
(2) None of the following is “expenditure” for those purposes—
(a) the investment of any of the charitable trust's funds,
(b) the making of a loan by the charitable trust, or
(c) the repayment by the charitable trust of the whole or a part of a loan made to it.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/545 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-545
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.