40 Interest charged to capital
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

40  Interest charged to capital

(1)     Where—

(a)     a company incurs expenditure on the construction of any building, structure or works, being expenditure allowable as a deduction under section 38 in computing a gain accruing to the company on the disposal of the building, structure or work, or of any asset comprising it, and

(b)     that expenditure was defrayed out of borrowed

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