5(1)Section 186 (fixture on which an industrial buildings allowance has been made) is amended as follows.U.K.
(2)In subsection (1)(a) and (b), for “is” substitute “ was ”.
(3)In subsection (3)—
(a)at the beginning insert “ If the total consideration for the transfer by the past owner exceeds R, ”, and
(b)in the definition of “R”—
(i)after “expenditure” insert “ which would have been ”, and
(ii)at the end insert “ , had the time immediately after the transfer fallen immediately before the repeal of Part 3 by section 84 of the Finance Act 2008. ”
(4)After that subsection insert—
“(3A)Where subsection (3) does not apply, the maximum allowable amount is the part of the consideration for the transfer by the past owner that is attributable to the fixture.”
(5)In subsection (5), for “in Part 3” substitute “ for the purposes of Part 3 immediately before its repeal by section 84 of the Finance Act 2008. ”