Finance Act, 1988

Amendment of section 23 (deduction for certain expenditure on construction of rented residential accommodation) of Finance Act, 1981.

27.—(1) As respects expenditure to which this section applies, section 23 of the Finance Act, 1981 , shall apply as if—

(a) in subsection (1) (a) for the definition of “qualifying period” there were substituted the following definition—

“‘qualifying period’ means the period commencing on the 27th day of January, 1988, and ending on the 31st day of March, 1991;”, and

(b) in the definition of “qualifying premises” in the said subsection (1) (a) “90 square metres” were substituted for “75 square metres”.

(2) This section applies to expenditure incurred in the period commencing on the 27th day of January, 1988, and ending on the 31st day of March, 1991, on the construction of a qualifying premises.

(3) This section shall be construed together with section 23 of the Finance Act, 1981 .