Capital Allowances Act 2001 section 473

Available qualifying expenditure

Section 473 defines "available qualifying expenditure" in a patent allowances pool for a chargeable period.

• Available qualifying expenditure is the total amount in a pool on which patent allowances can be calculated for a chargeable period
• It includes any new qualifying expenditure allocated to the pool for that period
• It also includes any unrelieved qualifying expenditure carried forward from the previous chargeable period
• These two components together form the base figure used to determine writing-down allowances and balancing adjustments