13U.K.For section 1162 substitute—
(1)If a company is entitled to relief under section 1161 for an accounting period it is also entitled to relief under this section for the period.
(2)For the company to obtain the relief it must make a claim.
(3)The relief is that the company may treat 50% of the qualifying Chapter 4 expenditure as expenses payable which fall to be brought into account at Step 3 in section 76(7) of ICTA (deduction for expenses payable).
(4)For the purposes of this Chapter “the qualifying Chapter 4 expenditure” means—
(a)the company's qualifying land remediation expenditure for the accounting period, less
(b)the amount (if any) which as a result of paragraph (a) of Step 1 in section 76(7) of ICTA is not to be brought into account at that step as expenses payable for the period.”