5(1)In subsection (3) of section 67 of that Act of 1990 (manner of giving allowance on thermal insulation), the words from “shall be made” to “corporation tax,” shall be omitted.
(2)After that subsection there shall be inserted the following subsection—
“(3A)Subsections (2) and (3) above have effect for the purposes of corporation tax only.”
(3)After subsection (4) of that section there shall be inserted the following subsection—
“(4A)Where the letting of any industrial building or structure by any person is deemed by virtue of section 28A to be in the course of a trade, subsection (1) above shall have effect as if that person occupied that building or structure for the purposes of that trade throughout the period for which it is let by him.”
6(1)In section 73 of that Act of 1990 (manner of making allowances and charges under Part II), in subsection (1), for “subsection (2)” there shall be substituted “subsections (1A) and (2)”.
(2)After subsection (1) of that section there shall be inserted the following subsection—
“(1A)Any allowance or charge made to or on any company by virtue of section 28A shall be made for the purposes of corporation tax by way of discharge or repayment of tax and, for that purpose—
(a)any such allowance shall be available primarily against income chargeable to tax under Schedule A; and
(b)the amount on which any such charge is to be made shall be treated as income so chargeable.”