Section 533 | Exclusion of contributions to dredging

(1)For the purposes of Part 9, a person (“D”) who has incurred expenditure is to be regarded as not having incurred it for the purposes of a trade carried on or to be carried on by D to the extent that it has been, or is to be, met (directly or indirectly) by—

(a)a public body, or

(b)capital sums contributed by another person for purposes other than those of D’s trade.

(2)Subsection (1) is not subject to the exceptions in sections 534 to 536.