Capital Allowances Act 2001 s 248

s 248 ... UK property businesses

If the qualifying activity of a person who is entitled or liable to an allowance or charge for a chargeable period is a UK property business, the allowance or charge is to be given effect in calculating the profits of that business, by treating— (a) the allowance as an expense of that business, and (b) the charge as a receipt of that business.

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