Point in time view as at 17/07/2012.
There are currently no known outstanding effects for the Capital Allowances Act 2001, Section 245.
(1)This section applies if—
(a)an election is made under section 227 (sale and leaseback or sale and finance leaseback: election for special treatment), and
(b)an additional VAT liability is incurred by S in respect of the capital expenditure incurred on the provision of the plant or machinery to which the election relates.
(2)The effect of the election is—
(a)that no allowance is to be made to S under this Act in respect of the additional VAT liability, and
(b)that the additional VAT liability must be left out of account in determining Ss’ available qualifying expenditure for any period.
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