Capital Allowances Act 2001 section 352

Trades

Section 352 explains how structures and buildings allowances and charges are given effect in calculating the profits of a trade, profession, or vocation.

• Allowances under this part are treated as an expense of the trade when calculating trading profits
• Charges (balancing charges) under this part are treated as a receipt of the trade when calculating trading profits
• Where a person occupies a commercial building in the course of a profession or vocation, the allowance or charge is given effect in calculating the profits of that profession or vocation instead of a trade
• These general rules are subject to other provisions in the same chapter, which may override them in specific circumstances