Part 8 Patent allowances
Chapter 4 Giving effect to allowances and charges
478 Persons having qualifying trade expenditure
An allowance or charge to which a person is entitled or liable under this Part for a chargeable period in respect of qualifying trade expenditure is to be given effect in calculating the profits of the trade, by treating—
a
the allowance as an expense of the trade, and
b
the charge as a receipt of the trade.