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Finance Act 1989

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119Expenditure on stands at sports grounds

(1)If a person carrying on a trade incurs expenditure, in respect of a regulated stand at a sports ground used by him for the purposes of his trade, in taking—

(a)steps necessary for compliance with the terms and conditions of a safety certificate issued for the stand, or

(b)steps specified in a letter or other document sent or given to him by or on behalf of the local authority for the area in which the ground is situated as steps the taking of which either would be taken into account by them in deciding what terms and conditions to include in a safety certificate to be issued for the stand or would lead to the amendment or replacement of a safety certificate issued or to be issued for it,

then, if an allowance or deduction in respect of the expenditure could not, apart from this section, be made in taxing the trade or computing the profits or gains arising from it, Chapter I of Part III of the [1971 c. 68.] Finance Act 1971 shall apply as if the expenditure were capital expenditure incurred on the provision of machinery or plant for the purposes of the trade, and as if the machinery or plant had, in consequence of his incurring the expenditure, belonged to him, and as if the disposal value of the machinery or plant were nil.

(2)In this section “local authority”, “regulated stand”, “safety certificate” and “sports ground” have the same meanings as in Part III of the [1987 c. 27.] Fire Safety and Safety of Places of Sport Act 1987.

(3)This section shall be construed as if contained in Chapter I of Part III of the Finance Act 1971.

(4)This section shall be deemed to have come into force on 1st January 1989.

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