C1Part 3 Industrial buildings allowances

Annotations:
Modifications etc. (not altering text)

Chapter 10 Additional VAT liabilities and rebates

Additional VAT liabilities

347 Additional VAT liabilities and writing-down allowances

1

This section applies if the person entitled to the relevant interest in relation to qualifying expenditure incurs an additional VAT liability in respect of that expenditure.

2

If this section applies—

a

the additional VAT liability is treated as qualifying expenditure, and

b

the amount of the residue of qualifying expenditure is accordingly increased at the time when the liability accrues by the amount of the liability.

3

The incurring of the additional VAT liability is a relevant event for the purposes of section 311 (calculation of writing-down allowances) that is to be treated as occurring at the time when the liability accrues.