8U.K.In section 27 of the Taxes Act 1988 (maintenance funds for historic buildings), for subsection (3) substitute—
“(3)Where by virtue of this section an election has effect in relation to an estate part of which is comprised in a settlement—
(a)there may be treated as deductible from the receipts arising from that part—
(i)any disbursements or expenses of the trustees of the settlement which relate to the other part of the estate and which would be so deductible if that part were also comprised in the settlement, and
(ii)any disbursements or expenses of the owner of the other part of the estate to the extent to which they cannot be deducted by him in the chargeable period in which they are incurred because of an insufficiency of any receipts for that period from which they are deductible apart from this sub-paragraph;
(b)any relief available to the trustees by virtue of section 379A(2)(b) shall instead be available to the owner of the other part of the estate.
This subsection has effect subject to subsection (2A) of section 26.”.