{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-147",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-147.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "section/147",
  "kind": "section",
  "number": "147",
  "heading": "Expenditure and receipts treated as revenue in nature",
  "text": "(1) This section applies if, in accordance with generally accepted accounting practice, an amount in respect of—\n(a) expenditure on the acquisition of a relevant telecommunication right, or\n(b) a receipt from the disposal of a relevant telecommunication right,\nis recognised in the accounts of a trade as an item in the calculation of profit or loss.\n(2) The amount is treated for income tax purposes as an item of a revenue nature.\n(3) “The acquisition of a relevant telecommunication right” includes—\n(a) the extension of rights attached to a relevant telecommunication right, and\n(b) if a relevant telecommunication right is subject to a derivative right, the cancellation or restriction of rights attached to the derivative right.\n(4) “The disposal of a relevant telecommunication right” includes—\n(a) the cancellation or restriction of rights attached to a relevant telecommunication right, and\n(b) the granting of a derivative right or the extension of rights attached to a derivative right.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/147",
    "retrieved_at": "2026-10-29T09:16:32.370392+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}