147 Expenditure and receipts treated as revenue in nature
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

147  Expenditure and receipts treated as revenue in nature

(1)     This section applies if, in accordance with generally accepted accounting practice, an amount in respect of—

(a)     expenditure on the acquisition of a relevant telecommunication right, or

(b)     a receipt

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