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24U.K.In section 311A (replacement domestic items relief), in subsection (15)—
(a)for the definition of “the capital expenditure rule” substitute—
““the capital expenditure rule” means—
(a)in relation to a property business whose profits are calculated in accordance with GAAP, section 33 (capital expenditure), as applied by section 272, and
(b)in relation to a property business whose profits are calculated on the cash basis, section 307B (cash basis: capital expenditure);”;
(b)in the definition of “the wholly and exclusively rule”—
(i)omit “the rule in”, and
(ii)after “section 272” insert “ or 272ZA ”.