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Changes over time for: Paragraph 124
Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 01/04/2009
Status:
Point in time view as at 30/11/2003. This version of this provision has been superseded.
Status
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Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2002, Paragraph 124.
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When expenditure treated as incurred: chargeable gains rule to be followed in certain casesU.K.
124For the purposes of paragraph 120 (assets regarded as created or acquired when expenditure incurred) expenditure on the acquisition of the asset that—
(a)does not qualify for any form of tax relief against income under the existing law, and
(b)would be treated as incurred after commencement under the general rule in paragraph 123,
shall be treated as incurred before commencement if the asset is (or would be) treated as disposed of (and thus acquired) before commencement for the purposes of the Taxation of Chargeable Gains Act 1992 (c. 12).
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