4 Capital expenditure
Capital Allowances Act 2001 (2001 c 2) | Legislation

4  Capital expenditure

(1)     In this Act “capital expenditure” and “capital sums” are used in the sense given in this section.

(2)     “Capital expenditure” and “capital sums” do not include, in relation to a person incurring the expenditure or paying the sums—

(a)     any expenditure or sum that may be deducted in calculating the profits or gains of a trade, profession or vocation or property business carried on by the person, . . .

[(aa)     any cash basis expenditure, other than expenditure incurred on the provision of a car, or]

[(b)     any expenditure or sum that may be allowed as

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