27 Application of Part to thermal insulation [F1and personal security] U.K.
(1)Subsection (2) has effect in relation to expenditure if—
(a)it is expenditure to which [F2section 28 or 33] applies, and
(b)an allowance under Part 2 or a deduction in respect of the expenditure could not, in the absence of this section, be made in calculating the income from the qualifying activity in question.
(2)This Part (including in particular section 11(4)) applies as if—
(a)the expenditure were capital expenditure on the provision of plant or machinery for the purposes of the qualifying activity in question, and
(b)the person who incurred the expenditure owned plant or machinery as a result of incurring it.
Textual Amendments
F1Words in s. 27 heading substituted (with effect in accordance with Sch. 39 para. 35 of the amending Act) by Finance Act 2012 (c. 14), Sch. 39 para. 34(3)(b)
F2Words in s. 27(1)(a) substituted (with effect in accordance with Sch. 39 para. 35 of the amending Act) by Finance Act 2012 (c. 14), Sch. 39 para. 34(3)(a)