Commentary

B3.1116 Business premises renovation—additional VAT liabilities and rebates

Business tax
Business tax | Commentary

B3.1116 Business premises renovation—additional VAT liabilities and rebates

Business tax | Commentary

B3.1116 Business premises renovation—additional VAT liabilities and rebates

The legislation specifies how additional VAT liabilities and rebates should be taken into account for the purposes of initial allowances, writing-down allowances and balancing adjustments, in respect of qualifying expenditure under the scheme1. The terms additional VAT liability and additional VAT rebate have the meaning given by CAA 2001, s 547 (see B3.103). The timing of the additional liability or rebate is given by CAA 2001, ss 548, 549 (see B3.104)2.

If a person, who was entitled to an initial allowance in respect of qualifying expenditure on a qualifying building, incurs an additional

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial