Finance Act, 1986
|
Deduction for certain expenditure on the provision of rented residential accommodation. |
43.—(1) In this section— | |
“construction or conversion expenditure” means expenditure in respect of which, if it were incurred in the qualifying period, relief would fall to be given under subsection (2) of the principal section otherwise than by virtue of section 21 of the Finance Act, 1985 ; | ||
“expenditure to which this section applies” means construction or conversion expenditure incurred in the specified period in relation to a qualifying premises the site of which is wholly within the Custom House Docks Area; and, for the purposes of determining whether and to what extent such expenditure was so incurred in the specified period, subsection (1) (b) of the principal section shall have effect as if the references in subparagraph (i) thereof to the qualifying period were references to the specified period and with any other necessary modifications; | ||
“the principal section” means section 23 of the Finance Act, 1981 . | ||
(2) This section shall be construed together with the principal section. | ||
(3) The principal section and section 24 of the Finance Act, 1981 , shall have effect as respects expenditure to which this section applies as if— | ||
(a) the following definition were substituted for the definition of “qualifying period” in subsection (1) (a) of the principal section: | ||
“‘qualifying period’ means the specified period within the meaning of section 41 of the Finance Act, 1986;”, | ||
(b) for the purposes of the definition of “qualifying premises” in the said subsection (1) (a), the reference in subsection (2) of section 29 of the Finance Act, 1983 , to expenditure to which that section applies were a reference to expenditure to which this section applies, | ||
(c) in subsections (1) and (2) of section 22 of the Finance Act, 1985 , the specified period were substituted for the period mentioned therein, and | ||
(d) the provisions of the Tax Acts set out in the Table to this subsection had not been enacted. | ||
TABLE | ||
Subsections (3) and (4) of section 29 of the Finance Act, 1983 | ||
The said subsections (3) and (4) as they are applied by section 30 (1) of the Finance Act, 1983 | ||
Section 21 of the Finance Act, 1985 |