Finance Act 2001 (c. 9)

Part 3 U.K. INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX

Chapter 2 U.K. OTHER PROVISIONS

Other relieving provisions U.K.

70 Relief for expenditure on remediation of contaminated land U.K.

(1) Schedule 22 to this Act (tax relief for expenditure on land remediation) has effect for accounting periods ending on or after 1st April 2001.

(2) In that Schedule—

• Part 1 provides for a deduction for certain capital expenditure in computing the profits of a Schedule A business or the profits of a trade for the purposes of Case I of Schedule D,

• Part 2 provides for entitlement to relief,

• Part 3 provides for the manner of giving effect to the relief,

• Part 4 makes special provision for companies carrying on life assurance business, and

• Part 5 contains supplementary provisions.

(3) Schedule 23 to this Act (which contains consequential amendments) has effect accordingly.