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).]

History

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.

Origin

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