Meaning of “short lease”
8(1)In section 70I (“short lease”)—
(a)in subsections (2) and (9)(d), for “5” substitute “7”, and
(b)omit subsections (3) to (8).
(2)In section 70YF (the “term” of a lease)—
(a)in subsection (5)(b), for “5” substitute “7”,
(b)in subsection (6), for “5” substitute “7”, and
(c)omit subsection (7).
(3)In section 220 (allocation of expenditure to a chargeable period), in subsection (4)(c), for “5” substitute “7”.