In s. 1297, the heading substituted by FA 2012, s. 146 and Sch. 16, para. 210(6) in relation to accounting periods beginning on or after 1 January 2013 (FA 2012, s. 148) but subject to transitional provisions in FA 2012, Sch. 17. Where an accounting period would otherwise straddle 1 January 2013, it is deemed to end on 31 December 2012 (FA 2012, s. 149).

1297(1)  This section applies if the employer is a company in relation to which the I – E rules apply.

1297(2)  In determining for the purposes of section 1290(1) whether a deduction would otherwise be allowable, the effect of section 79 of FA 2012 (spreading of relief for acquisition expenses) is ignored.

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