242 Restriction on B's qualifying expenditure: general
Capital Allowances Act 2001 (2001 c 2) | Legislation

242  Restriction on B's qualifying expenditure: general

(1)     This section applies instead of section 218 (restriction on B's qualifying expenditure in case other than sale and finance leaseback) if—

(a)     apart from this subsection, section 218 would apply, and

(b)     an additional VAT liability has been incurred by, or an additional rebate has been made to, any of the persons mentioned in that section.

(2)     The amount, if any, by which E exceeds D is to be left out of account in determining B's available qualifying expenditure.

E and D are defined in subsections (3) to (6).

(3)     Except where subsection (6) applies, E is the sum of—

(a)     B's expenditure under the relevant transaction, and

(b)     any additional VAT liability incurred by B in respect

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Schemes of arrangement—procedure

Schemes of arrangement—procedureProduced with input from Rebecca Cousin of Slaughter and May on market practice.This Practice Note looks at the detailed procedures to be followed to implement the acquisition by a buyer (offeror) of all the shares, or one or more classes of shares, in a company

LEXISNEXIS

Sentencing for rape

Sentencing for rapeThe Sentencing Council (SC) produces guidance on sentencing for courts in England and Wales in the form of offence specific sentencing guidelines for use in the magistrates’ court and the Crown Court. This Practice Note considers the approach to sentencing for the offences of rape

LEXISNEXIS

Common assault and battery

Common assault and batteryThe offences of common assault and batteryTechnically, the offences of assault and battery are separate summary offences. An assault is committed when the defendant intentionally or recklessly causes another to apprehend immediate and unlawful violence and battery is

LEXISNEXIS

Notice to complete

While this Practice Note primarily covers commercial property matters, it also touches on residential considerations.Time is generally not of the essence for completion of a contract for the sale of land. If the seller or the buyer delays completion, the defaulting party will be liable in damages