Commentary on Sections Overview Chapter 3: Debits in respect of intangible fixed assets Section 727: References to expenditure on an asset
1999.This section explains what is meant by “expenditure on an asset”. It is based on paragraph 133 of Schedule 29 to FA 2002.
2000.Subsection (2) puts beyond doubt the exclusion of capital expenditure on tangible assets that might otherwise appear to come within subsection (1) such as expenditure on cars used by company staff promoting the company’s brand name.