Finance Act, 1997
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Amendment of provisions relating to double rent allowance. |
27.— Section 45 of the Finance Act, 1986 , section 42 of the Finance Act, 1994 , and section 49 of the Finance Act, 1995 , are hereby amended— | |
(a) in subsection (2) of the said section 45, | ||
(b) in subsection (3) of the said section 42, and | ||
(c) in subsection (3) of the said section 49, | ||
by the substitution in each case for “equal to the amount of the first-mentioned deduction” of the following: | ||
“(in this subsection referred to as ‘the second-mentioned deduction’) equal to the amount of the first-mentioned deduction but, as respects a qualifying lease granted on or after the 21st day of April, 1997, where the first-mentioned deduction is on account of rent which is payable by such person to a connected person, such person shall not be entitled in that computation to the second-mentioned deduction”. |