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Legislation
Capital Allowances Act 2001

Crossheading Additional VAT liabilities

  • Section 346 Additional VAT liabilities and initial allowances
  • Section 347 Additional VAT liabilities and writing-down allowances
  • Section 348 Additional VAT liabilities and writing off initial allowances
  1. Additional VAT liabilities
  2. Additional VAT liabilities and writing off initial allowances

Section 348 | Additional VAT liabilities and writing off initial allowances

From legislation.gov.uk

If an initial allowance is made in respect of an additional VAT liability incurred after the building is first used, the amount of the allowance is written off at the time when the liability accrues.F1

Notes

  1. F1

    Pt. 3 omitted (with effect in relation to chargeable periods beginning on or after 1.4.2011 for corporation tax purposes and 6.4.2011 for income tax purposes in accordance with ss. 84(1)(3)(4), 85, 86 of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 84(2) (with Sch. 27)

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