Qualifying expenditure and unrelieved qualifying expenditure
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Nodiadau Esboniadol
93(1)In this paragraph and paragraphs 94 to 101, “qualifying expenditure” means capital expenditure incurred before 1st April 1986 on the purchase of patent rights.
(2)The result of Steps 1 to 3 is the unrelieved qualifying expenditure for a chargeable period.
Step 1
Take an item of qualifying expenditure.
Step 2
Subtract any writing-down allowances made in respect of that expenditure for earlier chargeable periods.
Step 3
If the person who incurred the expenditure sold any part of the patent rights before the beginning of the chargeable period, subtract the net proceeds of sale (so far as they consist of capital sums).