Capital Allowances Act 2001 section 233

Additional VAT liabilities and rebates

Section 233 directs readers to related provisions in Chapter 18 that deal with additional VAT liabilities and rebates arising under the capital goods scheme, where these interact with the rules on sales and finance leasebacks in Chapter 17.

• Chapter 17 (sales and finance leasebacks) must be read alongside sections 241 to 245 of Chapter 18
• Sections 241 to 245 cover situations where a person involved in a relevant transaction or a sale and finance leaseback incurs an additional VAT liability
• The same sections also cover situations where such a person receives an additional VAT rebate
• These additional VAT adjustments arise under the capital goods scheme and are dealt with separately from the main leaseback provisions