Section 89

INTERPRETATION

1  In this Schedule–

“future chargeable period” means a chargeable period beginning after 30 June 2009;

“provisional expenditure allowance” means an amount calculated under section 2(9)(a) of OTA 1975.

ABOLITION OF ALLOWANCE

2  No provisional expenditure allowance is to be calculated in respect of a future chargeable period.

AMENDMENTS CONSEQUENTIAL ON ABOLITION

3(1)  Section 2 of OTA 1975 (assessable profits and allowable losses) is amended as follows.

3(2)  [Substitutes OTA 1975, s. 2(8).]

3(3)  [Omits OTA 1975, s. 2(9)(a), (10) and (11).]

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