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(2) (a) Where an individual carrying on a qualifying trade proves to have incurred qualifying expenditure, then, for the purposes of this Chapter, other than sections 298 and 299, and for the purposes of Chapter 4 of this Part—

(1) Any allowance or charge made to or on any person under the preceding provisions of this Chapter shall, unless it is made under or by virtue of section 298 section 284(6) or 298, be made to or on that person in taxing such person’s trade.

(2) Any initial allowance or wear and tear allowance made under or by virtue of section 298(1) or any balancing allowance made under or by virtue of section 298(2) shall be made by means of discharge or repayment of tax, and shall be available primarily against income from the letting of machinery or plant.

(2) Any initial allowance or wear and tear allowance made under or by virtue of section 298(1) or any balancing allowance made under or by virtue of section 298(2) shall be made by means of discharge or repayment of tax, and shall be available primarily against income from the letting of machinery or plant.

(3) Any balancing charge made under or by virtue of section 298(2) shall be made under Case IV of Schedule D.

(i) section 284 shall apply as if the trade for the purposes of which the leased assets are (or would under section 298(1) be regarded as being) in use were a petroleum trade carried on by the lessor, and