Link Report

(2) (a) Subject to paragraphs (b) and (c) and subsections (3) to (5) subsections (3) to (5A) Subject to paragraphs (b) and (c), subsections (3) to (5A) and (as inserted by the Finance Act 2006) sections 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—

(b) either the person referred to in paragraph (a) or a person connected (within the meaning of section 10) with that person incurred the expenditure on the construction or refurbishment of the qualifying premises concerned.

(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

(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) 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) where a property developer is entitled to the relevant interest, within the meaning of section 269, in relation to that expenditure, and

(2) (a) Subject to paragraphs (b) and (c) and subsections (3) to (5) subsections (3) to (5A) Subject to paragraphs (b) and (c), subsections (3) to (5A) and (as inserted by the Finance Act 2006) sections 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—

(2) (a) Subject to paragraphs (b) and (c) and subsections (3) to (5) subsections (3) to (5A) Subject to paragraphs (b) and (c), subsections (3) to (5A) and (as inserted by the Finance Act 2006) sections 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—

(2) (a) Subject to paragraphs (b) and (c) and subsections (3) to (5) subsections (3) to (5A) Subject to paragraphs (b) and (c), subsections (3) to (5A) and (as inserted by the Finance Act 2006) sections 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—

(4) For the purposes of the application, by subsection (2), of sections 271 and 273 in relation to capital expenditure incurred in the qualifying period on the construction or refurbishment of a qualifying premises—

(a) section 271 shall apply—

(a) section 271 shall apply—

(b) section 272 shall apply as if in subsection (4)(a)(ii) of that section “beginning with the time when the building or structure was first used as an industrial building or structure” were substituted for “beginning with the time when the building or structure was first used”,

(4) For the purposes of the application, by subsection (2), of sections 271 and 273 in relation to capital expenditure incurred in the qualifying period on the construction or refurbishment of a qualifying premises—

(b) section 273 shall apply—

(5) Notwithstanding section 274(1), no balancing charge shall be made in relation to a qualifying premises by reason of any of the events specified in that section which occur—

(c) section 274 shall apply—

(b) in a case where section 276 applies, more than 13 years after the capital expenditure on refurbishment of the qualifying premises was incurred.

(d) section 277 shall apply—

(e) section 278 shall apply as if in subsection (2) of that section “before the building or structure is first used as an industrial building or structure” were substituted for “before the building or structure is first used for any purpose”, and

(f) section 279 shall apply as if in subsections (2) and (3) of that section “before the building or structure is used as an industrial building or structure or within the period of one year after it commences to be so used” were substituted for “before the building or structure is used or within the period of one year after it commences to be used” (in each place where it occurs in those subsections).

(2) (a) Subject to paragraphs (b) and (c) and subsections (3) to (5) subsections (3) to (5A) Subject to paragraphs (b) and (c), subsections (3) to (5A) and (as inserted by the Finance Act 2006) sections 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—

(II) other expenditure, if any, in respect of which there is provision for a deduction to be made by virtue of section 372X or 372Y section 372AP or 372AR,

incurred at that park and ride facility, does not exceed one-half of the total capital expenditure incurred at that park and ride facility in respect of which an allowance or deduction is to be made or would, but for this paragraph or section 372X(4) or 372Y(2)(c) 372AP(5) or 372AR(5), be made by virtue of any provision of this Chapter this Chapter or Chapter 11.

(II) other expenditure, if any, in respect of which there is provision for a deduction to be made by virtue of section 372X or 372Y section 372AP or 372AR,

incurred at that park and ride facility, does not exceed one-half of the total capital expenditure incurred at that park and ride facility in respect of which an allowance or deduction is to be made or would, but for this paragraph or section 372X(4) or 372Y(2)(c) 372AP(5) or 372AR(5), be made by virtue of any provision of this Chapter this Chapter or Chapter 11.

(5A) Notwithstanding subsections (2)(a), (4)(a) and (5), where it is shown in respect of a building or structure which is to be a qualifying premises that the relevant local authority is unable to give the certificate in writing referred to in subsection (1)(a) relating to compliance with certain requirements at a park and ride facility which would be a qualifying park and ride facility but for the delay referred to in section 372V(4A), then, in relation to capital expenditure incurred in the qualifying period on the construction or refurbishment of the building or structure—