15(1)Amend section 30 (expenditure on making sea walls) as follows.U.K.
(2)In subsection (1) for “he shall be” substitute “ that person shall be ”.
(3)In subsection (2) for “he would be” substitute “ that person would be ”.
(4)After that subsection insert—
“(2A)If—
(a)the transferor is a company within the charge to corporation tax and the transferee is a person within the charge to income tax, or
(b)the transferor is a person within the charge to income tax and the transferee is a company within the charge to corporation tax,
subsection (2) above shall apply only for the purpose of determining the amount of the payment which the company is treated as making in any year of assessment.
For any entitlement of the person within the charge to income tax to a deduction for any of the expenditure, see sections 316 and 318 of ITTOIA 2005 (corresponding income tax provision).”