Finance Act, 1966
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Allowances in respect of certain buildings or structures used for market gardening. |
28.—(1) Section 17 of the Finance (Miscellaneous Provisions) Act, 1956 , is hereby amended by the insertion at the end of subsection (1) of “or” and the following paragraph : | |
“(d) for the purposes of growing fruit, vegetables or other produce in the course of a trade of market gardening within the meaning of section 2 of the Finance Act, 1958 .” | ||
(2) Section 11 of the Finance Act, 1962, is hereby amended by the insertion in subsection (2) of “in respect of which an allowance under Part IV of the Finance (Miscellaneous Provisions) Act, 1956 , falls to be made by virtue of section 17 (1) (d) of that Act or” after “other than capital expenditure”. | ||
(3) In relation to a building or structure which falls to be regarded as an industrial building or structure by virtue of subsection (1) of this section, Part V of the Finance Act, 1959 , shall have effect as if— | ||
(a) “one-tenth” were substituted for “one-fiftieth” in section 25 (1) and section 27 (4) of that Act, and | ||
(b) “tenth year” were substituted for “fiftieth year” in section 25 (3) and section 26 (1) of that Act. | ||
(4) The foregoing provisions of this section shall have effect— | ||
(a) as from the 7th day of April, 1964, in so far as they are relevant to allowances under Part IV of the Finance (Miscellaneous Provisions) Act, 1956 , and | ||
(b) as from the 6th day of April, 1965, in so far as they are relevant to allowances or balancing charges under Part V of the Finance Act, 1959, | ||
but no allowance under the said Part IV or the said Part V shall be made by virtue of this section for any year of assessment prior to the year 1966-67. |