SE36850 - Deductions from emoluments: capital allowances – procedures - how capital allowances are given and how balancing charges are taxed

Section 262 CAA2001

Capital allowances

Capital allowances are given as a deduction from emoluments, in the same way as expenses under Section 198(1) ICTA 1988. If the allowances due exceed the emoluments, see SE36890.

Balancing charges

Balancing charges relating to employees and office holders are chargeable to tax under Schedule E as emoluments from the employment.