Excess Capital Allowances -Corporation Tax

Question asked:


Excess Capital allowances arise in trading profits.. There is also investment income.
Section 308 TCA 1997 Subsection 4
This provides that if there is insufficient of the specified class of income the capital allowances can be carried sideways to other profits of any class.
The fact that it says profits rather than income suggests to me that it cannot go to investment income
Is this reading correct. I can find nothing definitive in commentary.
Thank you

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Asked on 3 April 2018 3:20 pm