237 Exceptions to section 236U.K.
This section has no associated Explanatory Notes
(1)An additional VAT liability is not [F1AIA qualifying expenditure or] first-year qualifying expenditure if at the time when the liability is incurred the plant or machinery is used for overseas leasing which is not protected leasing.
F2(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in s. 237(1) inserted (with effect in accordance with Sch. 24 para. 23 of the amending Act) by Finance Act 2008 (c. 9), Sch. 24 para. 11
F2S. 237(2) omitted (21.7.2008) by virtue of Finance Act 2008 (c. 9), s. 76(5)(e) (with s. 76(7)(8))