Part 3A

Business Premises Renovation Allowances
Chapter 10

ADDITIONAL VAT LIABILITIES AND REBATES

Additional VAT liabilities and writing off initial allowances
360W
If an initial allowance is made in respect of an additional
VAT
liability incurred after the qualifying business premises are first used or suitable for letting for business use, the amount of the allowance is written off at the time when the liability accrues.
S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7
Pt. 3A inserted (11.4.2007 with effect in accordance with s. 92 of the amending Act) by Finance Act 2005 (c. 7), Sch. 6 para. 1; S.I. 2007/949, art. 2