Income Tax Citation, commencement and effect 1 1 These Regulations may be cited as the Business Premises Renovation Allowances (Amendment) Regulations 2012 and come into force on 11 April 2012. 2 Regulations 4 and 5 have effect in relation to expenditure incurred on or after that date. Amendment of the Business Premises Renovation Allowances Regulations 2007 2 The Business Premises Renovation Allowances Regulations 2007 are amended as follows. Insertion of regulation 2A (expiry date for incurring qualifying expenditure) 3 After regulation 2 insert— Expiry Date for incurring qualifying expenditure 2A For the purposes of Part 3A of the Act, “the expiry date” is prescribed as— a 1 April 2017, for corporation tax purposes; and b 6 April 2017, for income tax purposes. . Amendment of regulation 4 (meaning of “ qualifying business premises ”) 4 1 In paragraph (2) of regulation 4 (meaning of “ qualifying business premises ”) for the definition of “relevant trade” substitute— “ relevant trade ” means a trade— in any sector in relation to which Commission Regulation (EC) No 800/2008 declaring certain categories of aid compatible with the common market in the application of Articles 87 and 88 of the Treaty (General block exemption Regulation) does not apply by virtue of paragraph 3 of Article 1 of that Regulation; or carried on by any undertaking which— is subject to an outstanding recovery order made by virtue of Article 108(2) of the Treaty on the Functioning of the European Union ; or it is reasonable to assume would be regarded as a firm in difficulty for the purposes of the Community Guidelines on State Aid for Rescuing and Restructuring Firms in Difficulty . . 2 After paragraph (3) of regulation 4 insert— 4 In this regulation “ undertaking ” has the same meaning as it has for the purposes of section 45DB (exclusions from allowances under section 45DA) of the Act. . Insertion of new regulation 5 (meaning of “ qualifying expenditure ”) 5 After regulation 4, insert— Meaning of “qualifying expenditure” 5 1 For the purposes of Part 3A of the Act, expenditure is not qualifying expenditure if the expenditure is incurred on or in connection with a qualifying building and the building is not in a disadvantaged area on the date the expenditure is incurred. 2 For the purposes of Part 3A of the Act, expenditure is not qualifying expenditure if, and to the extent that,— a the amount of the expenditure (“current expenditure”); or b the current expenditure and the aggregate amount of the single project investment expenditure in respect of which allowances under Part 3A of the Act have previously been made, exceeds 20 million euros. 3 In this regulation “ single project investment expenditure ” means expenditure— a incurred by any person within a period of three years prior to the date on which the current expenditure is incurred; and b which, together with the current expenditure, would be treated as incurred in an economically indivisible way for the purposes of Article 13(10) of Commission Regulation (EC) No 800/2008 declaring certain categories of aid compatible with the common market in application of Articles 87 and 88 of the Treaty (General block exemption Regulation). 4 In this regulation “ disadvantaged area ” has the same meaning as that which applies for the purposes of section 360C of the Act. 5 For the purposes of this regulation, expenditure incurred in a currency other than the euro is to be converted into its equivalent in euros using the spot rate of exchange for the day on which the expenditure is incurred. Angela Watkinson Jeremy Wright Two of the Lords Commissioners of Her Majesty’s Treasury 19th March 2012