Part 2 Plant and machinery allowances
Chapter 18 Additional VAT liabilities and rebates
Additional VAT liability
237 Exceptions to section 236
(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)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .