(1) Section 31A (inserted by the Finance Act, 1976) of the Finance Act, 1975, is hereby amended by the substitution in paragraph (iv) (inserted by the Finance Act, 1979) of the proviso to subsection (4)(a) of "1997" for "1995" (inserted by the Finance Act, 1993) and the said paragraph (iv), as so amended, is set out in the Table to this subsection.
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(iv) a deduction shall not be allowed under the provisions of this section in computing a company's trading income for any accounting period which ends on or after the 6th day of April, 1997. |
(2) Section 12 of the Finance Act, 1976, is hereby amended by the substitution in subsection (3) of "1996-97" for "1994-95" (inserted by the Finance Act, 1993) and the said subsection (3), as so amended, is set out in the Table to this subsection.
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(3) Any deduction allowed by virtue of this section in computing a person's trading profits for an accounting period shall not have effect for any purpose of the Income Tax |