(1)Where an allowance is made to any person in respect of capital expenditure under Part I, III, IV, V, VI or VII—
(a)no allowance shall be made to him under any other of those Parts—
(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 24.
(2)Where in the case of any person an allowance or charge under section 24 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 Part of this Act other than Part II—
(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 section—
“asset” means an 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)This section shall not have effect in relation to any chargeable period ending before 27th July 1989.