Related Commentary  

237(1)  An additional VAT liability is not AIA 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.

237(2)  [Omitted by FA 2008, s. 76(5)(e).]


In s. 237(1), the words “AIA qualifying expenditure or” inserted by FA 2008, s. 74 and Sch. 24, para. 11, with effect in relation to expenditure incurred on or after 1 April 2008 for corporation tax purposes and 6 April 2008 for income tax purposes.

S. 237(2) omitted by FA 2008, s. 76(5)(e), with effect from 21 July 2008.


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