Finance Act, 1986
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Amendment of section 25 (allowance for certain expenditure on construction of multi-storey car-parks) of Finance Act, 1981. |
51.—(1) Section 25 of the Finance Act, 1981 , is hereby amended by the substitution in subsection (1), in the definition of “relevant expenditure”, of “1988” for “1987” (inserted by the Finance Act, 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, 1988, 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) (inserted by the Finance Act, 1984 ): | ||
“(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 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.”. |