Finance Act, 1981

Allowance for certain expenditure on construction of multi-storey carparks.

25.—(1) In this section—

“multi-storey car-park” means a building or structure consisting of three or more storeys wholly in use for the purpose of providing, for members of the public generally without preference for any particular class of person, upon payment of an appropriate charge, parking space for mechanically propelled vehicles;

“relevant expenditure” means capital expenditure incurred on or after the 29th day of January, 1981, and before the 1st day of April, 1984, on the construction of a multi-storey car-park.

(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.