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Capital Allowances Act 2001

Section 241: No first-year allowance in respect of additional VAT liability

859.This is the first of six sections that deal with the VAT aspects of the anti-avoidance provisions in Chapter 17.

860.Section 241 is based on parts of sections 75(1), (2) and (3), 76(1) and 76A(1) of CAA 1990. It ensures that the prohibition on first-year allowances imposed by sections 217 and 223 extends to any additional VAT liability incurred by the buyer in respect of the expenditure under the relevant transaction.

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