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28(1)Where an allowance is made to any person in respect of capital expenditure under one of the provisions specified in sub-paragraph (4) below—
(a)no allowance shall be made to him under any other of those provisions—
(i)in respect of that expenditure, or
(ii)in relation to the construction, provision or acquisition of any asset to the construction, provision or acquisition of which the first-mentioned allowance relates, and
(b)that expenditure and any expenditure relating to the provision of any asset to the provision of which the first-mentioned allowance relates shall not be taken into account in determining his qualifying expenditure for the purpose of any allowance or charge under section 44 of the [1971 c. 68.] Finance Act 1971.
(2)Where in the case of any person an allowance or charge under that section is made by reference to an amount of qualifying expenditure which took account of a particular amount of capital expenditure, no allowance shall be made to him under any of the provisions specified in sub-paragraph (4) below—
(a)in respect of that capital expenditure, or
(b)in relation to the provision of any asset if that capital expenditure related to the provision of that asset.
(3)In this paragraph—
“asset” means asset of any kind, including a building or structure, and
“capital expenditure” includes any contribution to capital expenditure,
and references to the provision of an asset include references to its construction or acquisition.
(4)The provisions referred to in sub-paragraphs (1) and (2) above are—
(a)Chapter I of Part I of the 1968 Act (industrial buildings and structures),
(b)Chapter IV of Part I of that Act (dredging),
(c)Chapter V of Part I of that Act (agricultural land and buildings),
(d)Part II of that Act (scientific research),
(e)Schedule 12 to the [1982 c. 39.] Finance Act 1982 (certain let dwelling-houses),
(f)Schedule 13 to the [1986 c. 41.] Finance Act 1986 (mineral extraction),
(g)Schedule 15 to the Finance Act 1986 (agricultural land and buildings).
(5)The following provisions (which are superseded by sub-paragraphs (1) to (4) above) shall cease to have effect—
(a)sections 9(b), 14, 50(2), 67(11) and 93(1) and (2) of the 1968 Act,
(b)paragraph 2 of Schedule 8 to the Finance Act 1971,
(c)paragraph 8 of Schedule 6 to the [1978 c. 42.] Finance Act 1978,
(d)in sections 74(6) and 75(6) of the [1980 c. 48.] Finance Act 1980, the words from the beginning to “and”,
(e)paragraph 11 of Schedule 12 to the [1982 c. 39.] Finance Act 1982, and
(f)section 56(5) of the [1986 c. 41.] Finance Act 1986,
and in section 92(5) of the 1968 Act the words “allowed or” and “balancing allowance or” shall cease to have effect.
(6)This paragraph shall have effect in relation to any chargeable period or its basis period ending on or after the day on which this Act is passed.