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(1)This section applies if—
(a)a person was entitled to an initial allowance in respect of qualifying enterprise zone expenditure,
(b)the person entitled to the relevant interest in relation to that expenditure incurs an additional VAT liability in respect of that expenditure,
(c)the additional VAT liability is incurred at a time when the building is, or is to be, an industrial building—
(i)occupied by the person entitled to the relevant interest or a qualifying lessee, or
(ii)used by a qualifying licensee, and
(d)the additional VAT liability is incurred not more than 10 years after the site of the building was first included in the enterprise zone.
(2)If this section applies, the person entitled to the relevant interest is entitled to an initial allowance on the amount of the additional VAT liability.
(3)The amount of the initial allowance is 100% of the amount of the additional VAT liability.
(4)A person claiming an initial allowance under this section may require the allowance to be reduced to a specified amount.
(5)The allowance is made for the chargeable period in which the additional VAT liability accrues.
(6)The persons mentioned in subsection (1)(a) and (b) need not be the same.
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