Interpretation of Part XVU.K.
112. —
(1) Any expression used in this Part to which a meaning is given in Part XIV of these Regulations shall, unless the contrary intention appears, have the same meaning in this Part as it has in that Part [F1and in particular, exempt supplies and taxable supplies shall be accorded the same meanings as defined in regulation 110 above].
(2) Any reference in this Part to a capital item shall be construed as a reference to a capital item to which this Part applies by virtue of regulation 113, being an item which a person (hereinafter referred to as “the owner”) uses in the course or furtherance of a business carried on by him, and for the purpose of that business, otherwise than solely for the purpose of selling the item.
Textual Amendments
F1Words in reg. 112(1) added (1.1.2000) by The Value Added Tax (Amendment) (No. 4) Regulations 1999 (S.I. 1999/3114), regs. 1, 10
Commencement Information
I1Reg. 112 in force at 20.10.1995, see reg. 1