SCHEDULES
SCHEDULE 24Machine games duty
PART 1Imposition of duty
Negative amounts of duty
10
1
If the calculation of the amount of machine games duty for which a taxable person is liable for an accounting period results in a negative amount (“amount X”)—
a
the amount of machine games duty for which that person is liable for that period is treated as nil, and
b
the amount of duty for which that person is liable for the next accounting period is to be reduced by amount X.
2
Sub-paragraph (1) applies to an accounting period whether or not amount X results wholly or partly from the previous application of that sub-paragraph.
3
Subject to any reduction required by sub-paragraph (1)(b), the person is not entitled to any repayment or refund of machine games duty in respect of amount X.