Commentary on Sections Glossary Structure of this Part Overview
1694.This Chapter deals with the way in which allowances and charges are made. They are treated as trading expenses and receipts if qualifying trade expenditure is involved. They are treated as deductions from patent income or, broadly, as patent income if qualifying non-trade expenditure is involved.
1695.Section 478 deals with allowances and charges for a pool of qualifying trade expenditure.
1696.Section 479 deals, for income tax, with allowances and charges for a pool of qualifying non-trade expenditure.
1697.Section 480 deals, for corporation tax, with allowances and charges for a pool of qualifying non-trade expenditure.