Capital Allowances Act 2001 section 313

Meaning of "the residue of qualifying expenditure"

Section 313 defines what is meant by "the residue of qualifying expenditure" in the context of patent allowances.

• The residue of qualifying expenditure is a key concept in calculating patent allowances
• It represents the portion of original qualifying expenditure that remains unrelieved
• Expenditure is progressively reduced as it is written off under the rules in Chapter 8 of Part 8
• The residue at any point determines the balance still available for future allowances or balancing adjustments