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Changes over time for: Cross Heading: Activities analogous to trades
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Timeline of Changes
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Version Superseded: 01/04/2009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Point in time view as at 06/04/2005.
Changes to legislation:
There are currently no known outstanding effects for the Capital Allowances Act 2001, Cross Heading: Activities analogous to trades.
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Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Activities analogous to tradesU.K.
251 Professions and vocationsU.K.
If the qualifying activity of a person who is entitled or liable to an allowance or charge for a chargeable period is carrying on a profession or vocation, the allowance or charge is to be given effect in calculating the profits or gains of that person’s profession or vocation, by treating—
(a)the allowance as an expense of the profession or vocation, and
(b)the charge as a receipt of the profession or vocation.
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 [section 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 [Chapter 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.
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