Section 241 (no first-year allowance in respect of additional VAT liability) is amended as follows.

In subsection (1)(b), before “a first-year” insert “ an annual investment allowance or ”.

In subsection (2), for “A first-year allowance is not” substitute “ No annual investment allowance or first-year allowance is ”.

In subsection (3), after “Any” insert “ annual investment allowance or ”.

In the heading, after “No” insert “ annual investment allowance or ”.