{
  "url": "https://openlegislation.uk/capital-allowances-act-2001/section-241",
  "json_url": "https://openlegislation.uk/capital-allowances-act-2001/section-241.json",
  "legislation": "ukpga/2001/2",
  "legislation_title": "Capital Allowances Act 2001",
  "legislation_url": "https://openlegislation.uk/capital-allowances-act-2001",
  "path": "section/241",
  "kind": "section",
  "number": "241",
  "heading": "No annual investment allowance or first-year allowance in respect of additional VAT liability",
  "text": "(1) This section applies if—\n(a) one person (“B”) enters into a transaction with another person (“S”) which is a relevant transaction for the purposes of Chapter 17 (anti-avoidance), and\n(b) an annual investment allowance or a first-year allowance in respect of B’s expenditure under the relevant transaction is prohibited by section 217(1)....\n(2) No annual investment allowance or first-year allowance is to be made in respect of any additional VAT liability incurred by B in respect of his expenditure under the relevant transaction.\n(3) Any annual investment allowance or first-year allowance which is prohibited by subsection (2), but which has already been made, is to be withdrawn.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 241(1)(b) inserted (with effect in accordance with Sch. 24 para. 23 of the amending Act) by Finance Act 2008 (c. 9), Sch. 24 para. 12(2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 241(1)(b) omitted (with effect in accordance with Sch. 20 para. 6(19) of the amending Act) by virtue of Finance Act 2008 (c. 9), Sch. 20 para. 6(16)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 241(2) substituted (with effect in accordance with Sch. 24 para. 23 of the amending Act) by Finance Act 2008 (c. 9), Sch. 24 para. 12(3)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 241(3) inserted (with effect in accordance with Sch. 24 para. 23 of the amending Act) by Finance Act 2008 (c. 9), Sch. 24 para. 12(4)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 241 heading inserted (with effect in accordance with Sch. 24 para. 23 of the amending Act) by Finance Act 2008 (c. 9), Sch. 24 para. 12(5)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2001/2/section/241",
    "retrieved_at": "2026-10-29T09:20:17.739129+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}