Modifications etc. (not altering text)
C1Sch. 5 extended (19.3.1997) by 1997 c. 16, s. 50(1), Sch. 5 Pt. I para. 4(3)
45(1)This paragraph applies where—U.K.
(a)material undergoes a F1... disposal,
(b)a payment falls to be made under a disposal contract relating to the material, and
(c)after the making of the contract there is a change in the tax chargeable on the F2... disposal.
(2)In such a case the amount of any payment mentioned in sub-paragraph (1)(b) above shall be adjusted, unless the disposal contract otherwise provides, so as to reflect the tax chargeable on the F3... disposal.
(3)For the purposes of this paragraph a disposal contract relating to material is a contract providing for the disposal of the material, and it is immaterial—
(a)when the contract was made;
(b)whether the contract also provides for other matters;
(c)whether the contract provides for a method of disposal and (if it does) what method it provides for.
(4)The reference in sub-paragraph (1) above to a change in the tax chargeable is a reference to a change—
(a)to or from no tax being chargeable, or
(b)in the amount of tax chargeable.
Textual Amendments
F1Word in Sch. 5 para. 45(1)(a) omitted (with effect in accordance with s. 42(2), Sch. 12 para. 29(1) of the amending Act) by virtue of Finance Act 2018 (c. 3), Sch. 12 para. 16(6)
F2Word in Sch. 5 para. 45(1)(c) omitted (with effect in accordance with s. 42(2), Sch. 12 para. 29(1) of the amending Act) by virtue of Finance Act 2018 (c. 3), Sch. 12 para. 16(6)
F3Word in Sch. 5 para. 45(2) omitted (with effect in accordance with s. 42(2), Sch. 12 para. 29(1) of the amending Act) by virtue of Finance Act 2018 (c. 3), Sch. 12 para. 16(6)