Finance Act, 1998

Amendment of section 659 (farming: allowances for capital expenditure on the construction of farm buildings, etc. for control of pollution) of Principal Act.

38.— Section 659 of the Principal Act is hereby amended in subsection (3) by the substitution of the following paragraph for paragraph (a):

“(a) as respects the first year of the writing-down period referred to in subsection (2), where the capital expenditure was incurred—

(i) before the 6th day of April, 1998, an amount equal to 50 per cent of that expenditure or £10,000, whichever is the lesser, or

(ii) on or after the 6th day of April, 1998, an amount equal to 50 per cent of that expenditure or £15,000, whichever is the lesser,”.