Capital Allowances Act 2001

252 Mines, transport undertakings etc.U.K.

If the qualifying activity of a person who is entitled or liable to an allowance or charge for a chargeable period is a concern listed in [F1section 12(4) of ITTOIA 2005 or] section 55(2) of ICTA (mines, transport undertakings etc.) the allowance or charge is to be given effect in calculating the profits of the concern under [F2Chapter 2 of Part 2 of ITTOIA 2005 or, as the case may be, under] Case I of Schedule D, by treating—

(a)the allowance as an expense of the concern, and

(b)the charge as a receipt of the concern.