SCHEDULES
SCHEDULE 7Contaminated and derelict land
Part 1Amendments of Part 14 of CTA 2009
12
1
Section 1161 (relief in respect of I minus E basis: enhanced expenses payable) is amended as follows.
2
In subsection (2), after “that” insert “
a major interest in
”
.
3
For subsection (3) substitute—
3
Condition B is that—
a
in the case of land in a contaminated state, the land was in a contaminated state at the time of the acquisition by the company of a major interest in the land, and
b
in the case of land in a derelict state, the land was in a derelict state throughout the period beginning with the earlier of—
i
1 April 1998, and
ii
the date on which a major interest in the land was first acquired by the company or a person who was connected with the company.
3A
The Treasury may by order—
a
specify circumstances in which the condition in paragraph (a) of subsection (3) need not be met, or
b
replace the date for the time being specified in paragraph (b)(i) of that subsection with a later date.
3B
An order under subsection (3A) may contain incidental, supplemental, consequential and transitional provision and savings.
4
In subsection (4)—
a
for “Chapter 4” substitute “
land remediation
”
, and
b
omit “(see section 1162)”.
5
Omit subsection (5).
6
In subsection (6), omit “150% of”.
7
In the heading, omit “enhanced”.
8
In the heading before the section omit “for qualifying Chapter 4 expenditure”.