Section 270BNC | Power to amend meaning of “special tax site qualifying expenditure” etc F1F2
From legislation.gov.uk
(1)The Treasury may by regulationsF1F2
(a)change the conditions that must be met in order for qualifying expenditure to be “special tax site qualifying expenditure” for the purposes of this Part (whether by adding, removing or altering conditions) , orF1F2F3F4F5
(b)make provision adding, removing or altering, or otherwise about, circumstances in which qualifying expenditure is to be treated as if it were—F1F2F5
(i)special tax site qualifying expenditure, orF1F2F5F4
(ii)other qualifying expenditure,F1F2F5
including provision about assessments, adjustments to assessments, returns, amendments of returns and penalties.
(2)Regulations under this section—F1F2
(a)may not remove the requirement for the building or structure to be situated in an area that is a special tax site, butF1F2F6
(b)may alter the time when that requirement must be satisfied.F1F2
(3)Regulations under this section may, among other things—F1F2
(a)make provision by reference to the expenditure, the building or structure, the person who incurred the expenditure or a person who is or has been connected with that person;F1F2
(b)impose conditions relating to accounts or other records;F1F2
(c)impose other conditions requiring a person to take steps specified in the regulations;F1F2
(d)make different provision for different purposes;F1F2
(e)include incidental, supplementary, consequential, transitional or transitory provision.F1F2
(4)Regulations under this section—F1F2
(a)may amend, repeal or otherwise modify and other provisions of this Part, andF1F2
(b)where made under subsection (1)(b) or (3)(e), may amend, repeal or otherwise modify other provisions of this Act or provisions of another Act.F1F2F7
(5)The power to make regulations under subsection (1)(b) may be exercised only in relation to qualifying expenditure incurred on or after the date on which the regulations come into force.F8