172Exclusion of expenditure met by subsidiesU.K.
(1)Expenditure is excluded for the purposes of section 170 so far as it has been, or is to be, met (directly or indirectly) by—
(a)the Crown,
(b)a government or local or other public authority (whether in the United Kingdom or elsewhere), or
(c)any person other than the person incurring the expenditure.
(2)This is subject to the following exceptions.
(3)Expenditure is not excluded for the purposes of section 170 if it is met (directly or indirectly) by a grant—
(a)made under Northern Ireland legislation, and
(b)declared by the Treasury by an order under section 534 of CAA 2001 to correspond to a grant under Part 2 of the Industrial Development Act 1982 (c. 52).
(4)Expenditure is not excluded for the purposes of section 170 if it is met (directly or indirectly) by—
(a)insurance money, or
(b)other compensation money,
payable in respect of an asset which has been destroyed, demolished or put out of use.
(5)Expenditure is not excluded for the purposes of section 170 if—
(a)it has been, or is to be, met (directly or indirectly) by a person other than the Crown or a government or local or other public authority, and
(b)no deduction is allowed for the expenditure in calculating for income or corporation tax purposes the profits of a trade carried on by that person.