5 When capital expenditure is incurred
Capital Allowances Act 2001 (2001 c 2) | Legislation

5  When capital expenditure is incurred

(1)     For the purposes of this Act, the general rule is that an amount of capital expenditure is to be treated as incurred as soon as there is an unconditional obligation to pay it.

(2)     The general rule applies even if the whole or a part of the expenditure is not required to be paid until a later date.

(3)     There are the following exceptions to the general rule.

(4)     If under an agreement—

(a)     the capital expenditure is expenditure on the provision

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