This section has no associated Explanatory Notes
[F17(1)Condition A is that repayment interest has been paid to the person on a VAT credit for a prescribed accounting period.U.K.
(2)Condition B is that (whether or not a previous assessment has been made), an assessment or amendment of an assessment is made of the amount of value added tax payable by the person for that prescribed accounting period.
(3)Condition C is that as a result of the assessment or amendment of an assessment, it appears to HMRC that some or all of the repayment interest ought not to have been paid.]
Textual Amendments
F1Sch. 54A Pt. 2 inserted (1.1.2023) by Finance Act 2021 (c. 26), s. 120(2), Sch. 29 para. 4(3); S.I. 2022/1277, reg. 2(2)(a) (with reg. 3)