51 Credit: general
Finance Act 1996 (1996 c 8) | Legislation

Credit

51  Credit: general

(1)     Regulations may provide that where—

(a)     a person has paid or is liable to pay tax [in respect of the disposal of material at a landfill site], and

(b)     prescribed conditions are fulfilled,

the person shall be entitled to credit of such an amount as is found in accordance with prescribed rules.

(2)     Regulations may make provision as to the manner in which a person is to benefit from credit, and in particular may make provision—

(a)     that a person shall be entitled to credit by reference to accounting periods;

(b)     that a person shall be entitled to deduct an amount equal to his total credit for an accounting period from the total amount

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