[F1320 Overall limit on balancing chargeU.K.
This section has no associated Explanatory Notes
The amount of a balancing charge made on a person must not exceed the amount of the net allowances made.]
Textual Amendments
F1Pt. 3 omitted (with effect in relation to chargeable periods beginning on or after 1.4.2011 for corporation tax purposes and 6.4.2011 for income tax purposes in accordance with ss. 84(1)(3)(4), 85, 86 of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 84(2) (with Sch. 27)