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(ii) any allowance attributable to the machinery or plant referred to in subparagraph (a) which, but for this clause, would have been made to the company under Part 9 or under any provision that is construed as one with that Part for any accounting period in which the company is a tonnage tax company shall not be made, and

(C) the sale, insurance, salvage or compensation moneys (within the meaning of Part 9) arising from the event or, where paragraph (b) of section 289(3) applies, the open-market price of the machinery or plant (within the meaning of that section) at the time of the event.

(iii) in determining the amount of any capital allowance or balancing charge, if any, to be made under Part 9 or under any other provision to be construed as one with that Part in relation to the part of the asset treated by virtue of this subparagraph as in use wholly and exclusively for purposes other than the company’s tonnage tax trade regard shall be had to all relevant circumstances and, in particular, to the extent of the use, if any, of the machinery or plant for the purposes of a trade, and there shall be made to or on the company, in respect of that trade, an allowance of such an amount or a balancing charge of such an amount, as may be just and reasonable.

(i) any capital allowance or balancing charge to be made in respect of that part of the asset treated as in use wholly and exclusively for purposes other than the company’s tonnage tax trade under Part 9 or under any provision which is to be construed as one with that Part, or

(ii) the amount of any balancing charge to be made for the purpose of the tonnage tax trade under Part 9, or under any provision which is to be construed as one with that Part, as applied by this Schedule,

(2) Where this paragraph applies the machinery or plant shall be treated as 2 separate assets one in use wholly and exclusively for the purposes of the tonnage tax trade and the other in use wholly and exclusively for the purposes of the other trade of the company and, in determining the amount of any capital allowance, or the amount of any charge to be made, under Part 9 or under any provision which is to be construed as one with that Part in the case of that part of the asset treated as a separate asset for the purposes of the other trade of the company, regard shall be had to all relevant circumstances and, in particular, to the extent of the use of the machinery or plant for the purposes of the other trade, and there shall be made to or on the company, in respect of the other trade, an allowance of such an amount, or a charge of such an amount, as may be just and reasonable.

(a) if the asset begins to be used wholly for purposes of another trade the provisions of Part 9 shall apply as if capital expenditure had been incurred by the person carrying on the other trade on the provision of the plant or machinery for the purposes of that trade in that person’s chargeable period (within the meaning of Part 9) in which the plant or machinery is brought into use for those purposes, and the amount of that expenditure shall be taken as the lesser of—

(a) if the asset begins to be used wholly for purposes of another trade the provisions of Part 9 shall apply as if capital expenditure had been incurred by the person carrying on the other trade on the provision of the plant or machinery for the purposes of that trade in that person’s chargeable period (within the meaning of Part 9) in which the plant or machinery is brought into use for those purposes, and the amount of that expenditure shall be taken as the lesser of—

(ii) Part 9 shall apply as if the company had incurred capital expenditure on the provision of that part of the asset treated as in use wholly and exclusively for the other trade of the company in the accounting period of the company in which that part of the asset is brought into use for those purposes, and

(III) the sale, insurance, salvage or compensation moneys (within the meaning of Part 9) arising on the event or, where paragraph (b) of section 289(3) applies, the open-market price of the machinery or plant (within the meaning of that section) at the time of the event.

(1) A balancing charge arising under Part 9 as applied by this Schedule or under this Schedule shall—

(3) On the first occasion of the happening of an event which gives rise to a balancing charge (including such an event arising in respect of more than one asset on the same date) under Part 9 as applied by this Schedule, or under this Schedule, on a tonnage tax company, the tonnage tax company shall by notice in writing to the Revenue Commissioners elect for relief against that charge under either paragraph 16 or, if applicable, paragraph 17 but not for relief under both, and any such election shall be irrevocable and be included in the company’s return under section 951 Chapter 3 of Part 41A for the accounting period in which the charge arises.

(4) Where a balancing charge arises on a tonnage tax company under Part 9 as applied by this Schedule or under this Schedule subsequent to any charge on the company such as is referred to in subparagraph (3), relief against that charge shall only be available under the paragraph for which the company elected for relief in accordance with that subparagraph.

16. The amount of any balancing charge under Part 9 as applied by this Schedule or under this Schedule shall be reduced by 20 per cent of the amount of the charge for each whole year in which the company on which the charge is to be made has been subject to tonnage tax calculated by reference to the time of the event giving rise to the charge.

17. Where a balancing charge under Part 9 as applied by this Schedule or under this Schedule arises in connection with the disposal of a qualifying ship, then the company may set off against any balancing charge so arising any losses (including any losses referable to capital allowances treated by virtue of section 307 or 308 as trading expenses of the company) which accrued to the company before its entry to tonnage tax and which are attributable to—

(a) a balancing charge under Part 9 as applied by this Schedule arises in connection with the disposal of a qualifying ship, and

(2) For the purposes of the making of allowances and charges under Part 9 or any provision construed as one with that Part, the capital expenditure on the provision of the machinery or plant as determined in accordance with subparagraph (1) shall be deemed to have been incurred on the day immediately following the date the company leaves tonnage tax.

(b) Subject to clauses (c) and (d), where this subparagraph applies any allowance which, but for section 697O and paragraph 10(1)(b) or 11(2)(c), would have been made under Part 9 or any provision construed as one with that Part to the company for any accounting period in which it was subject to tonnage tax shall, subject to compliance with that Part, be made instead for such accounting periods immediately after the company leaves tonnage tax as will ensure, subject to that Part, that all such allowances are made to the company in those accounting periods as would have been made to the company in respect of that machinery or plant if the company had never been subject to tonnage tax.

(1) Where any identifiable part of a building or structure is used for the purposes of a company’s tonnage tax trade, that part is treated for the purposes of Chapter 1 of Part 9 as used otherwise than as an industrial building or structure.

(1) Where any identifiable part of a building or structure is used for the purposes of a company’s tonnage tax trade, that part is treated for the purposes of Chapter 1 of Part 9 as used otherwise than as an industrial building or structure.

(4) Where a company leaves tonnage tax the amount of capital expenditure qualifying for relief under Chapter 1 of Part 9 shall be determined as if—

(4) Where a company leaves tonnage tax the amount of capital expenditure qualifying for relief under Chapter 1 of Part 9 shall be determined as if—

(I)section 268(1)(d),

(II)section 268(1)(g),

(III)section 268(1)(i),

(IV)section 268(1)(j),

(V)section 268(1)(k),

(VI)section 268(1)(l) (inserted by the Finance Act 2006),

(VII)section 268(1)(m) (inserted by the Finance Act 2008),

(VIII)section 268(1)(n) (inserted by the Finance Act 2013) to the extent that the writing-down allowances are referable to specified capital expenditure (within the meaning of section 268),

(VIII)section 268(1)(n) (inserted by the Finance Act 2013) to the extent that the writing-down allowances are referable to specified capital expenditure (within the meaning of section 268),

(ii) a building or structure which is deemed to be a building or structure in use for the purposes of the trade of hotel-keeping by virtue of section 268(3),

(iii) a building or structure which is deemed to be a building or structure in use for the purposes of a trade referred to in section 268(1)(g) by virtue of section 268(3B),

(iii) a building or structure which is deemed to be a building or structure in use for the purposes of a trade referred to in section 268(1)(g) by virtue of section 268(3B),

(I)section 268(1)(d),

(II)section 268(1)(g),

(III)section 268(1)(i),

(IV)section 268(1)(j),

(V)section 268(1)(k),

(VI)section 268(1)(l) (inserted by the Finance Act 2006),

(VII)section 268(1)(m) (inserted by the Finance Act 2008),

(VIII)section 268(1)(n) (inserted by the Finance Act 2013) to the extent that the balancing allowances are referable to specified capital expenditure (within the meaning of section 268),

(VIII)section 268(1)(n) (inserted by the Finance Act 2013) to the extent that the balancing allowances are referable to specified capital expenditure (within the meaning of section 268),

(ii) a building or structure which is deemed to be a building or structure in use for the purposes of the trade of hotel-keeping by virtue of section 268(3),

(iii) a building or structure which is deemed to be a building or structure in use for the purposes of a trade referred to in section 268(1)(g) by virtue of section 268(3B),

(iii) a building or structure which is deemed to be a building or structure in use for the purposes of a trade referred to in section 268(1)(g) by virtue of section 268(3B),

(1) Where, in relation to any trade or profession carried on by an individual, any allowances or part of any such allowances made under Part 9, including that Part as applied by any other provision of the Tax Acts, for the tax year 2006 to the individual in taxing the individual’s trade or profession—

SR is the aggregate of the amounts of the allowances made to the individual under Chapter 1 of Part 9 (being allowances made in respect of a specified relief or specified reliefs) in taxing the trade or profession of the individual in respect of the tax year 2006 and each of the 3 preceding tax years, other than any such allowances or part of such allowances which—

SR is the aggregate of the amounts of the allowances made to the individual under Chapter 1 of Part 9 (being allowances made in respect of a specified relief or specified reliefs) in taxing the trade or profession of the individual in respect of the tax year 2006 and each of the 3 preceding tax years, other than any such allowances or part of such allowances which—

TR is the aggregate of the amounts of the allowances made to the individual under Part 9, including that Part as applied by any other provision of the Tax Acts, in taxing the trade or profession of the individual in respect of the tax year 2006 and each of the 3 preceding tax years, other than any such allowances or part of such allowances which—

SA is the aggregate of the amounts of the allowances made to the individual under Chapter 1 of Part 9, including that Chapter as applied by any other provision of the Tax Acts, (being allowances made in respect of a specified relief or specified reliefs) in taxing the trade or profession of the individual in respect of the tax year 2006 and each of the 3 preceding tax years, other than any such allowances or part of such allowances which—

SA is the aggregate of the amounts of the allowances made to the individual under Chapter 1 of Part 9, including that Chapter as applied by any other provision of the Tax Acts, (being allowances made in respect of a specified relief or specified reliefs) in taxing the trade or profession of the individual in respect of the tax year 2006 and each of the 3 preceding tax years, other than any such allowances or part of such allowances which—

TA is the aggregate of the amounts of the allowances made to the individual under Part 9, including that Part as applied by any other provision of the Tax Acts, in taxing the trade or profession of the individual in respect of the tax year 2006 and each of the 3 preceding tax years, other than any such allowances or part of such allowances which—

(a) the balance of any allowances or part of such allowances made under Chapter 1 of Part 9, including that Chapter as applied by any other provision of the Tax Acts, for the tax year 2006 to an individual in charging income under Case V of Schedule D, or

(a) the balance of any allowances or part of such allowances made under Chapter 1 of Part 9, including that Chapter as applied by any other provision of the Tax Acts, for the tax year 2006 to an individual in charging income under Case V of Schedule D, or

SR is the aggregate of the amounts of the allowances (being allowances made in respect of a specified relief or specified reliefs) made to the individual under Chapter 1 of Part 9, including that Chapter as applied by any other provision of the Tax Acts, in charging the individual’s income for the tax year 2006 and each of the 3 preceding tax years under Case V of Schedule D, and

SR is the aggregate of the amounts of the allowances (being allowances made in respect of a specified relief or specified reliefs) made to the individual under Chapter 1 of Part 9, including that Chapter as applied by any other provision of the Tax Acts, in charging the individual’s income for the tax year 2006 and each of the 3 preceding tax years under Case V of Schedule D, and

TR is the aggregate of the amounts of the allowances made to the individual under Chapter 1 of Part 9, including that Chapter as applied by any other provision of the Tax Acts, in charging the individual’s income for the tax year 2006 and each of the 3 preceding tax years under Case V of Schedule D.

TR is the aggregate of the amounts of the allowances made to the individual under Chapter 1 of Part 9, including that Chapter as applied by any other provision of the Tax Acts, in charging the individual’s income for the tax year 2006 and each of the 3 preceding tax years under Case V of Schedule D.

(2) The provisions of the Tax Acts (other than section 273) 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 is to be made for the purposes of income tax or corporation tax, as the case may be, under Part 9 by reason of its use for a purpose specified in section 268(1)(a).

“balancing charge” means a balancing charge under Part 9 or Chapter 1 of Part 29, as the case may be;

(b) Notwithstanding paragraph (a) and paragraphs (a)(II) and (b)(II) of subsection (2), this section shall apply in so far as the trade of a limited partnership consists of the management and letting of holiday cottages within the meaning of section 268, where—

(a) (i) which is or is to be an industrial building or structure by reason of its use or deemed use for a purpose specified in section 268(1) and in relation to which an allowance has been, or is to be, made to a company under Part 9, or

(a) is, or by virtue of section 268(3) is deemed to be, an industrial building or structure within the meaning of section 268(1)(d),

(a) is, or by virtue of section 268(3) is deemed to be, an industrial building or structure within the meaning of section 268(1)(d),

(b) is an industrial building or structure within the meaning of section 268(1)(k),

(i) is a qualifying residential unit within the meaning of section 268(3A).

(i) where subsection (4)(a) applies, section 268(13)(c)(ii)(I) or, as the case may be, sections 272(9)(b)(i) and 274(1B)(b)(i),

(a) where the building or structure is to be used for a purpose specified in paragraph (a) or (b) of section 268(1), 50 per cent of the capital expenditure mentioned in subsection (2); but, in the case of a building or structure to which subsection (3)(a) applies, this paragraph shall apply only if that expenditure is incurred before the 25th day of January, 1999,

(b) where the building or structure is to be used for a purpose specified in paragraph (c) or (e) of section 268(1), 20 per cent of the capital expenditure mentioned in subsection (2), and

(a) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (a) or (b) of section 268(1)—

(b) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (c) or (e) of section 268(1), 10 per cent of the expenditure referred to in subsection (2)(c),

(c) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d), other than a building or structure to which paragraph (d) paragraph (d) or (da) paragraph (d), (da) or (db) relates—

(d) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of its use as a holiday cottage, 10 per cent of the expenditure referred to in subsection (2)(c), and

(da) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of its use as a guest house or a holiday hostel to which section 268(2C) applies, 4 per cent of the capital expenditure on the construction (within the meaning of section 270) of the building or structure which is incurred on or after 3 February 2005,

(da) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of its use as a guest house or a holiday hostel to which section 268(2C) applies, 4 per cent of the capital expenditure on the construction (within the meaning of section 270) of the building or structure which is incurred on or after 3 February 2005,

(db) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of being comprised in, and in use as part of, premises which are registered in the register of caravan sites and camping sites kept under the Tourist Traffic Acts 1939 to 2003, 4 per cent of the capital expenditure on the construction (within the meaning of section 270) of the building or structure which is incurred on or after 1 January 2008,

(e) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(f), 4 per cent of the expenditure referred to in subsection (2)(c). subsection (2)(c),

(f) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (g) or (i) of section 268(1), 15 per cent of the expenditure referred to in subsection (2)(c), and

(g) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(h), 4 per cent of the expenditure referred to in subsection (2)(c). subsection (2)(c), and

(h) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(j) paragraph (j) or (k) of section 268(1), 15 per cent of the expenditure referred to in subsection (2)(c). subsection (2)(c), and

(i) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (l) of section 268(1), 15 per cent of the expenditure referred to in subsection (2)(c). subsection (2)(c), and

(j) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (m) of section 268(1), 15 per cent of the expenditure referred to in subsection (2)(c). subsection (2)(c), and

(k) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (n) of section 268(1)—

and in use for the purposes of a trade which consists of the operation or management of an airport, not being either machinery or plant or a building or structure to which section 268(1)(f) applies.

B is the amount of the writing-down allowances which would have been made under this section in respect of the capital expenditure referred to in A if the building or structure had at all times been an industrial building or structure within the meaning of section 268(1)(h) and on the assumption that that section had applied as respects capital expenditure incurred before—

(3B)(a) This subsection shall apply to a building or structure to which section 268(1)(f) applies, being a building or structure in existence on the vesting day and vested in Aer Rianta cuideachta phoiblí theoranta Dublin Airport Authority on that day.

(a) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (a) or (b) of section 268(1)—

(b) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (c) or (e) of section 268(1), 10 years beginning with the time when the building or structure was first used,

(c) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d), other than a building or structure referred to in paragraph (d) paragraph (d) or (da) paragraph (d), (da) or (db) —

(d) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of its use as a holiday cottage, 10 years beginning with the time when the building or structure was first used, and

(da) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of its use as a guest house or a holiday hostel to which section 268(2C) applies, 25 years beginning with the time when the building or structure was first used, in the case where the capital expenditure on the construction (within the meaning of section 270) of the building or structure is incurred on or after 3 February 2005,

(da) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of its use as a guest house or a holiday hostel to which section 268(2C) applies, 25 years beginning with the time when the building or structure was first used, in the case where the capital expenditure on the construction (within the meaning of section 270) of the building or structure is incurred on or after 3 February 2005,

(db) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of being comprised in, and in use as part of, premises which are registered in the register of caravan sites and camping sites kept under the Tourist Traffic Acts 1939 to 2003—

(e) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(f), 25 years beginning with—

(f)subject to paragraph (fa), in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (g) or (i) of section 268(1)—

(g) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(h), 25 years beginning with—

(ga) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (j) of section 268(1)—

(h) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(j) paragraph (j) or (k) of section 268(1), 7 years beginning with the time when the building or structure was first used. used, and

(i) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (l) of section 268(1)—

(j) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (m) of section 268(1)—

(k) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (n) of section 268(1)—

(7) For the purposes of this section, where a writing-down allowance has been made to a person for any chargeable period in respect of capital expenditure incurred on the construction of a building or structure within the meaning of paragraph (d) of section 268(1) and at the end of a chargeable period or its basis period the building or structure is not in use for the purposes specified in that paragraph, then, in relation to that expenditure—

(a) the building or structure shall not be treated as ceasing to be an industrial building or structure if, on the cessation of its use for the purposes specified in paragraph (d) of section 268(1), it is converted to use for the purposes specified in paragraph (g) of that section and at the end of the chargeable period or its basis period it is in use for those latter purposes, and

(b) as respects that chargeable period or its basis period and any subsequent chargeable period or basis period of it, the building or structure shall, notwithstanding the cessation of its use for the purposes specified in paragraph (d) of section 268(1), be treated as if it were in use for those purposes if at the end of the chargeable period or its basis period the building or structure is in use for the purposes specified in paragraph (g) of that section.

“qualifying expenditure” means capital expenditure incurred on or after the 2nd day of February, 1978, by the person to whom the allowance under section 272 is to be made on the construction of a building or structure which is to be an industrial building or structure occupied by that person for a purpose specified in paragraph (a), (b) or (d) of section 268(1), but excluding such expenditure incurred for the purposes of the trade of hotel-keeping unless it is incurred on the construction of premises which are registered in a register kept by Bord Fáilte Éireann the National Tourism Development Authority under the Tourist Traffic Acts, 1939 to 1995.

(ii) a building or structure which is to be an industrial building or structure within the meaning of section 268(1)(d) and in respect of the provision of which expenditure was incurred before the 31st day of December, 1995, where a binding contract for the provision of the building or structure was entered into before the 31st day of December, 1990.

(i) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (a) or (b) of section 268(1)—

(ii) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (c), (e), (g) or (i) paragraph (c) or (e) of section 268(1), 10 years after the building or structure was first used,

(iia) subject to subparagraph (iib), in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (g) or (i) of section 268(1)—

(iii) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d), other than a building or structure to which subparagraph (iv) subparagraph (iv) or (iva) subparagraph (iv), (iva) or (ivb) relates—

(iv) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of its use as a holiday cottage, 10 years after the building or structure was first used, and

(iva) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of its use as a guest house or a holiday hostel to which section 268(2C) applies, 25 years after the building or structure was first used, in the case where the capital expenditure on the construction (within the meaning of section 270) of the building or structure is incurred on or after 3 February 2005,

(iva) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of its use as a guest house or a holiday hostel to which section 268(2C) applies, 25 years after the building or structure was first used, in the case where the capital expenditure on the construction (within the meaning of section 270) of the building or structure is incurred on or after 3 February 2005,

(ivb) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of being comprised in, and in use as part of, premises which are registered in the register of caravan sites and camping sites kept under the Tourist Traffic Acts 1939 to 2003—

(v) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(f), 25 years after—

(vi) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(h), 25 years after—

(via) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (j) of section 268(1)—

(vii) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(j) paragraph (j) or (k) of section 268(1), 10 years beginning with the time when 10 years after the building or structure was first used. used, and

(viii) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (l) of section 268(1)—

(ix) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (m) of section 268(1)—

(x) in relation to a building or structure which is to be regarded as an industrial building or structure within the meaning of paragraph (n) of section 268(1)—

(i) is in use for the purposes of a trade referred to in paragraph (g) of section 268(1),

(ii) is in use as a qualifying residential unit (within the meaning of section 268(3A)) which, by virtue of section 268(3B), is deemed to be a building or structure referred to in subparagraph (i),

(ii) is in use as a qualifying residential unit (within the meaning of section 268(3A)) which, by virtue of section 268(3B), is deemed to be a building or structure referred to in subparagraph (i),

(iii) is in use for the purposes of a trade referred to in paragraph (i) of section 268(1),

(iv) is in use for the purposes of a trade referred to in paragraph (j) of section 268(1),

(v) is in use for the purposes of a trade referred to in paragraph (l) (as inserted by the Finance Act 2006) of section 268(1), or

(vii) is in use for the purposes of a trade referred to in paragraph (m) of section 268(1).

(6) Where a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of its use as a holiday cottage ceases to be comprised in premises registered in a register referred to in section 268 in such circumstances that apart from this subsection this section would not apply in relation to the building or structure, the relevant interest in the building or structure shall for the purposes of this Chapter (other than section 272(4)) be deemed on such cesser to have been sold while the building or structure was an industrial building or structure and the net proceeds of the sale shall be deemed for those purposes to be an amount equal to the capital expenditure incurred on the construction of the building or structure.

(6) Where a building or structure which is to be regarded as an industrial building or structure within the meaning of section 268(1)(d) by reason of its use as a holiday cottage ceases to be comprised in premises registered in a register referred to in section 268 in such circumstances that apart from this subsection this section would not apply in relation to the building or structure, the relevant interest in the building or structure shall for the purposes of this Chapter (other than section 272(4)) be deemed on such cesser to have been sold while the building or structure was an industrial building or structure and the net proceeds of the sale shall be deemed for those purposes to be an amount equal to the capital expenditure incurred on the construction of the building or structure.

(7) Where a balancing charge is made under this section by virtue of subsection (6) and the relevant interest in the building or structure is not subsequently sold by the person on whom the charge is made while the building or structure is not an industrial building or structure, such person shall, if the building or structure again becomes comprised in a premises registered in a register referred to in section 268, be treated for the purposes of this Chapter as if, at the time of the cesser referred to in subsection (6), such person were the buyer of the relevant interest deemed under that subsection to have been sold.

(5) No wear and tear allowance shall be made under this section in respect of capital expenditure incurred on the construction of a building or structure which is or is deemed to be an industrial building or structure within the meaning of section 268.

“qualifying building or structure” means a building or structure which is to be an industrial building or structure within the meaning of section 268(1)(d), and in respect of the provision of which expenditure was incurred before the 31st day of December, 1995, where a binding contract for the provision of the building or structure was entered into before the 31st day of December, 1990;

(b) that it is for a purpose set out in section 268(1),

(3A) For the purposes of subsection (3), any transfer of property by a person to another person, pursuant to a Debt Settlement Arrangement or a Personal Insolvency Arrangement entered into under the Personal Insolvency Act 2012, whereby such property is held in trust for the creditors of the person making the transfer shall not, where that property is an industrial building or structure (within the meaning of section 268), be treated as an exchange of property.

(b) a building or structure deemed to be a building or structure in use for such purposes by virtue of section 268(3),

(2C) For the purposes only of determining, in relation to a claim for an allowance under this Part, whether and to what extent capital expenditure incurred on the construction or refurbishment of a building or structure referred to in paragraphs (g), (i), (j) or (l) of section 268(1) is incurred or not incurred in any of the periods referred to in paragraphs (d), (f), (g) and (i) of section 268(9), paragraph (g), (i), (j), (l) or (n) of section 268(1) is incurred or not incurred in any of the periods referred to in paragraph (d), (f), (g), (i) or (k) of section 268(9), only such an amount of that capital expenditure as is properly attributable to work on the construction or refurbishment of the building or structure actually carried out in any such period shall (notwithstanding subsection (2) and any other provision of the Tax Acts as to the time when any capital expenditure is or is to be treated as incurred) be treated as having been incurred within that period.

(2C) For the purposes only of determining, in relation to a claim for an allowance under this Part, whether and to what extent capital expenditure incurred on the construction or refurbishment of a building or structure referred to in paragraphs (g), (i), (j) or (l) of section 268(1) is incurred or not incurred in any of the periods referred to in paragraphs (d), (f), (g) and (i) of section 268(9), paragraph (g), (i), (j), (l) or (n) of section 268(1) is incurred or not incurred in any of the periods referred to in paragraph (d), (f), (g), (i) or (k) of section 268(9), only such an amount of that capital expenditure as is properly attributable to work on the construction or refurbishment of the building or structure actually carried out in any such period shall (notwithstanding subsection (2) and any other provision of the Tax Acts as to the time when any capital expenditure is or is to be treated as incurred) be treated as having been incurred within that period.

(a) apart from this section is not an industrial building or structure within the meaning of section 268(1), and

(i) as if a qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(i) (I) which is an industrial building or structure within the meaning of section 268(1), and in respect of which capital expenditure is incurred in the specified period for which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9, or

(b) which is to be an industrial building or structure by reason of its use for a purpose specified in paragraph (a) or (d) of section 268(1).

(5) Notwithstanding section 274(1), in the case of a building or structure to which this section applies by reason of its use for a purpose specified in section 268(1)(a), no balancing charge shall be made by reason of any of the events specified in section 274(1) which occurs—

(b) apart from this section is not an industrial building or structure within the meaning of section 268, and

(i) as if a qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(i) (I) which is an industrial building or structure within the meaning of section 268(1), and in respect of which capital expenditure is incurred in the qualifying period for which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9, or

(1) This section shall apply to a building or structure the site of which is wholly within a designated area, or which fronts on to a designated street, and which is to be an industrial building or structure by reason of its use for a purpose specified in section 268(1)(a).

(i) apart from this section is not an industrial building or structure within the meaning of section 268, and

(i) as if a qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(7) (a) Subject to subsections (8) and (9) subsections (8), (9) and (11), the provisions of the Tax Acts (other than section 341) relating to the making of allowances or charges in respect of capital expenditure incurred on the construction or refurbishment of an industrial building or structure shall, notwithstanding anything to the contrary in those provisions, apply as if a qualifying building were, at all times at which it is a qualifying building, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a).

(2) (a) Subject to subsections (3) to (6) subsections (3) to (6A) Subject to subsections (3) to (6A) and (as inserted by the Finance Act 2006) sections 270(4), 270(5), 270(6) and 316(2B), the provisions of the Tax Acts (other than section 341) relating to the making of allowances or charges in respect of capital expenditure incurred on the construction or refurbishment of an industrial building or structure shall, notwithstanding anything to the contrary in those provisions, apply as if a qualifying multi-storey car park were, at all times at which it is a qualifying multi-storey car park, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a).

(a) (i) the site of which is wholly within a designated area and which is a building or structure in use for a purpose specified in section 268(1)(a), and in respect of which capital expenditure is incurred in the qualifying period for which an allowance is to be made, or will by virtue of section 279 be made, for the purposes of income tax or corporation tax, as the case may be, under section 271 or 273, as applied by section 341,

(iv) the site of which is wholly within a designated area and which is a building or structure in use for the purposes specified in section 268(1)(d), and in respect of the construction or refurbishment of which capital expenditure is incurred in the qualifying period for which an allowance would but for subsection (6) be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9, or

(5) (a) A building or structure in use for the purposes specified in section 268(1)(d) shall not be a qualifying premises for the purposes of this section unless the person to whom an allowance under Chapter 1 of Part 9 would but for subsection (6) be made for the purposes of income tax or corporation tax, as the case may be, in respect of the capital expenditure incurred in the qualifying period on the construction or refurbishment of the building or structure elects by notice in writing to the appropriate inspector (within the meaning of section 950) to disclaim all allowances under that Chapter in respect of that capital expenditure.

(6) Where a person who has incurred capital expenditure in the qualifying period on the construction or refurbishment of a building or structure in use for the purposes specified in section 268(1)(d) makes an election under subsection (5)(a), then, notwithstanding any other provision of the Tax Acts—

(1) This section shall apply to a building or structure the site of which is wholly within a qualifying resort area and which is to be an industrial building or structure by reason of its use for the purposes specified in section 268(1)(d).

(a) apart from this section is not an industrial building or structure within the meaning of section 268, and

(i) as if a qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(a) (i) which is a building or structure in use for the purposes specified in section 268(1)(d), and in respect of which capital expenditure is incurred in the qualifying period for which an allowance is to be made, or will by virtue of section 279 be made, for the purposes of income tax or corporation tax, as the case may be, under section 271, 272 or 273, as applied by section 352, or

(a) a building or structure to which section 352 applies by virtue of the building or structure being a holiday cottage of the type referred to in section 268(3), and

(a) apart from this section is not an industrial building or structure within the meaning of section 268, and

(i) as if the qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for the purpose specified in section 268(1)(a), and

(1) In this section, “building or structure to which this section applies” means a building or structure or part of a building or structure the site of which is wholly within a qualifying area and which is to be an industrial building or structure by reason of its use for a purpose specified in section 268(1)(a).

(a) apart from this section is not an industrial building or structure within the meaning of section 268, and

(i) as if a qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(b) which apart from this section is not an industrial building or structure within the meaning of section 268 or deemed to be such a building or structure,

(i) as if the qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(1) In this section “building or structure to which this section applies” means a building or structure or part of a building or structure the site of which is wholly within a qualifying area and which is to be an industrial building or structure by reason of its use for a purpose specified in section 268(1)(a).

(a) apart from this section is not an industrial building or structure within the meaning of section 268, and

(i) as if a qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(1) This section shall apply to a building or structure the site of which is wholly within a qualifying rural area and which is to be an industrial building or structure by reason of its use for a purpose specified in section 268(1)(a) paragraph (a) or (b) of section 268(1).

(a) apart from this section is not an industrial building or structure within the meaning of section 268, and

(i) as if a qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(1) (a) Subject to subsections (2) to (4) subsections (2) to (4A) Subject to subsections (2) to (4A) and (as inserted by the Finance Act 2006) section 270(4), 270(5), 270(6) and 316(2B), the provisions of the Tax Acts relating to the making of allowances or charges in respect of capital expenditure incurred on the construction or refurbishment of an industrial building or structure shall, notwithstanding anything to the contrary in those provisions, apply as if a qualifying park and ride facility were, at all times at which it is a qualifying park and ride facility, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a).

(b) which apart from this section is not an industrial building or structure within the meaning of section 268(1), and

(i) as if a qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(1) Subject to subsection (2) Subject to subsections (2) and (3), where on or after the 24th day of April, 1992, a person incurs capital expenditure on the acquisition or construction of a building or structure which is or is to be an industrial building or structure by virtue of being a holiday cottage within the meaning of section 268, and an allowance is to be made in respect of that expenditure under section 271 or 272—

(2) This section shall not apply to expenditure incurred before the 6th day of April, 1993, on the acquisition or construction of a building or structure (in this subsection referred to as “the holiday cottage”) which is or is to be an industrial building or structure by virtue of being a holiday cottage within the meaning of section 268 if before the 24th day of April, 1992—

“hotel investment” means capital expenditure incurred either on the construction of, or the acquisition of a relevant interest in, a building or structure which is to be regarded as an industrial building or structure within the meaning of subsection (1)(d) of section 268, other than a building or structure to which subsection (3) of that section relates;

(a) a building or structure which is or is to be an industrial building or structure by reason of its use or its deemed use for a purpose specified in section 268(1), and

(i) which is or is deemed to be an industrial building or structure by reason of its use for the purposes specified in section 268(1)(d), or

“specified building” means a building or structure which is or is deemed to be an industrial building or structure by reason of its use for a purpose specified in section 268(1)(d) but does not include—

(a) any such building or structure (not being a building or structure in use as a holiday camp referred to in section 268(3))—

(b) a building or structure which is deemed to be such a building or structure by reason of its use as a holiday cottage of the type referred to in section 268(3).

(a) a building or structure, or a part of a building or structure, which is or is to be an industrial building or structure by reason of its use or deemed use for a purpose specified in section 268(1) and in relation to which an allowance has been, or is to be, made to a company under Chapter 1 of Part 9, or

(12) No farm buildings allowance shall be made by virtue of this section in respect of any expenditure if for the same or any other chargeable period an allowance is or has been made in respect of that expenditure under Chapter 1 of Part 9.

(12) No farm buildings allowance shall be made by virtue of this section in respect of any expenditure if for the same or any other chargeable period an allowance is or has been made in respect of that expenditure under Chapter 1 of Part 9.

(a) Chapters 1 and 3 of Part 9,

(a) Chapters 1 and 3 of Part 9,

(9) Section 304(4) shall apply in relation to an allowance under this section as it applies in relation to an allowance to be made under Part 9.

(12) References to capital expenditure in Part 9 and in section 670, Chapter 1 of Part 29 and sections 763 to 765 shall be deemed not to include references to expenditure which is exploration expenditure, and exploration expenditure shall be deemed not to be expenditure on know-how for the purposes of section 768.

shall, with any necessary modifications, apply for the purposes of this section as they apply for the purposes of Part 9 and Chapter 1 of Part 29.

(8) References to capital expenditure in Part 9 and in section 670, Chapter 1 of Part 29 and sections 763 to 765 shall be deemed not to include references to expenditure which is abandonment expenditure; but subsections (1) and (2) of section 316 and sections 317(2) and 320(5) shall, with any necessary modifications, apply for the purposes of this section as they apply for the purposes of Part 9 and Chapter 1 of Part 29.

(8) References to capital expenditure in Part 9 and in section 670, Chapter 1 of Part 29 and sections 763 to 765 shall be deemed not to include references to expenditure which is abandonment expenditure; but subsections (1) and (2) of section 316 and sections 317(2) and 320(5) shall, with any necessary modifications, apply for the purposes of this section as they apply for the purposes of Part 9 and Chapter 1 of Part 29.

(a) apart from this section is not an industrial building or structure within the meaning of section 268, and

(a) as if the qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(a) apart from this section is not an industrial building or structure within the meaning of section 268, and

(a) as if a qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(a) as if a qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Part 9 by reason of its use for a purpose specified in section 268(1)(a), and

(a) as if the qualifying premises were, at all times at which it is a qualifying premises, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for the purpose specified in section 268(1)(a), and

(1) In this section, “premises” means an industrial building or structure within the meaning of section 268 which is not a building or structure to which section 272 applies.

(i) a building or structure to which section 352 applies by virtue of the building or structure being a holiday cottage of the type referred to in section 268(3), or