(1)

(a) Subject to subsections (2) to (4A) and (as inserted by the Finance Act 2006) section 270(4), 270(5), 270(6) and 316(2B), the provisions of the Tax Acts relating to the making of allowances or charges in respect of capital expenditure incurred on the construction or refurbishment of an industrial building or structure shall, notwithstanding anything to the contrary in those provisions, apply as if a qualifying park and ride facility were, at all times at which it is a qualifying park and ride facility, a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter 1 of Part 9 by reason of its use for a purpose specified in section 268(1)(a).

(b) An allowance shall be given by virtue of this subsection in respect of any capital expenditure incurred on the construction or refurbishment of a qualifying park and ride facility only in so far as that expenditure is incurred in the qualifying period.