Finance Act, 1984
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Amendment of section 25 (allowance for certain expenditure on construction of multi-storey car-parks) of Finance Act, 1981. |
38.—(1) Section 25 of the Finance Act, 1981 , is hereby amended by the substitution in subsection (1), in the definition of “relevant expenditure”, of “1987” for “1984”, and the said definition, as so amended, is set out in the Table to this subsection. | |
TABLE | ||
“relevant expenditure” means capital expenditure incurred on or after the 29th day of January, 1981, and before the 1st day of April, 1987, on the construction of a multi-storey car-park. | ||
(2) The said section 25 is hereby further amended by the substitution of the following subsection for subsection (2): | ||
“(2) All the provisions of the Tax Acts (other than section 25 of the Finance Act, 1978 ) relating to the making of allowances or charges in respect of capital expenditure on the construction of an industrial building or structure shall apply to relevant expenditure as if— | ||
(a) it were expenditure incurred on the construction of a building or structure in respect of which an allowance falls to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter II of Part XV or under Chapter I of Part XVI of the Income Tax Act, 1967 , by reason of its use for a purpose specified in section 255 (1) (a) of that Act, and | ||
(b) the references to the 1st day of April, 1985 (as provided for by section 35 of the Finance Act, 1984) in the provisions of the Income Tax Act, 1967 (as inserted by the Corporation Tax Act, 1976 ) specified in the Table to this subsection, were references to the 1st day of April, 1987. | ||
TABLE | ||
Subsection (2A) (a) of section 254 (industrial buildings allowance) | ||
Paragraph (ii) of the proviso to subsection (1) and paragraph (ii) of the proviso to subsection (3) of section 264 (annual allowances) | ||
Paragraph (iii) of the proviso to subsection (1) of section 265 (balancing allowances and balancing charges)”. |