Income Tax (Trading and Other Income) Act 2005 (c. 5)

Part 2 U.K. Trading income

Chapter 3 U.K. Trade profits: basic rules

28 Items treated under CAA 2001 as receipts and expenses U.K.

The rules for calculating the profits of a trade need to be read with—

(a) the provisions of CAA 2001 which treat charges as receipts of a trade, and

(b) the provisions of CAA 2001 which treat allowances as expenses of a trade.