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Capital Allowances Act 2001

Overview

1568.This Chapter deals with the effect of additional VAT liabilities and rebates in respect of an asset representing qualifying expenditure. They can result in additional qualifying expenditure or generate (or increase) a disposal value.

1569.Section 446 points to the definition of the terms used in this Chapter.

1570.Section 447 treats certain additional VAT liabilities as if they were capital expenditure on R&D.

1571.Section 448 treats certain additional VAT rebates as if they were disposal values and deals with their effect on the calculation of allowances and charges in later chargeable periods.

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