Section 332BA — Corporation Tax Act 2010: Meaning of “investment expenditure”

Meaning of “investment expenditure” 332BA 1 For the purposes of this Chapter, expenditure incurred by a company is “investment” expenditure only if it is—

a capital expenditure, or b expenditure of such other description as may be prescribed by the Treasury by regulations.

2 Regulations under subsection (1)(b) may provide for any of the provisions of the regulations to have effect in relation to expenditure incurred before the regulations are made.

3 But subsection (2) does not apply to any provision of amending or revoking regulations which has the effect that expenditure of any description ceases to be investment expenditure.

4 Regulations under subsection (1)(b) may—

a make different provision for different purposes;

b make transitional provision and savings.