Capital Allowances Act 2001 section 270GA

Introduction

Section 270GA introduces the key VAT-related definitions and timing rules that apply throughout the structures and buildings allowances chapter.

• The terms "additional VAT liability" and "additional VAT rebate" are defined elsewhere in the Act (section 547) and apply for the purposes of this chapter.
• The timing of when a person incurs an additional VAT liability or receives an additional VAT rebate is determined by section 548.
• The chargeable period in which, and the precise time when, an additional VAT liability or rebate accrues is determined by section 549.
• These definitions and timing rules are foundational to understanding how VAT adjustments interact with structures and buildings allowances.