[F150(1)This paragraph applies where—U.K.
(a)the operator of a landfill site is liable to pay landfill tax on a taxable disposal by reference to a particular accounting period,
(b)a controller of the whole or a part of that site is (apart from this paragraph) liable under paragraph 49 above to pay an amount of that tax, and
(c)for the accounting period in question the operator is entitled to credit under regulations made under section 51 of this Act.
(2)The amount of the tax which the controller is (apart from this sub-paragraph) liable to pay shall be reduced by the amount calculated in accordance with the following formula—
where—
A is the amount of tax mentioned in sub-paragraph (1)(b) above;
C is the amount of credit mentioned in sub-paragraph (1)(c) above; and
G is the operator’s gross tax liability for the accounting period in question.
(3)For the purposes of sub-paragraph (2) above, the operator’s gross tax liability for the accounting period in question is the gross amount of landfill tax—
(a)which is chargeable on disposals made at all landfill sites of which he is the operator, and
(b)for which he is required to account by reference to that accounting period.
(4)In sub-paragraph (3) above, the gross amount of landfill tax means the amount of tax before any credit or any other adjustment is taken into account in the period in question.
(5)If the amount calculated in accordance with the formula in sub-paragraph (2) above is greater than the amount of tax mentioned in sub-paragraph (1)(b) above, the amount of the tax which the controller is liable to pay shall be reduced to nil.]
Textual Amendments
F1Sch. 5 Pt. VIII paras. 48-61 added (28.7.2000 with effect in relation to taxable disposals made on or after 28.7.2000) by 2000 c. 17, s. 142(3)(4), Sch. 37