Section 67: Vat: Refunds to Strategic Highways Companies
Summary
1.This section adds strategic highways companies to the list of bodies which qualify for refunds of VAT under section 41(3) of the Value Added Tax Act 1994. This will take effect from 1 April 2015.
Details of the Section
2.Subsection (1) amends Section 41(7) of the Value Added Tax Act 1994 which lists certain bodies which are entitled to refunds of VAT under section 41(3). Strategic highways companies, which are intended to replace the Highways Agency, are added to that list.
Background Note
3.Section 1 of the Infrastructure Act 2015 Chapter 7 provides for the establishment of strategic highways companies to take over the functions of the Highways Agency. As an executive agency of the Department of Transport, the Highways Agency is entitled to recover the VAT it pays when purchasing certain services. This measure will ensure that strategic highways companies will similarly be entitled to recover VAT.
