# Finance Act 1991, Paragraph 5

Extent: E+W+S+N.I.

(1) In section 8 of that Act, for subsection (2) (initial allowances to be treated as written off when building or structure first used) there shall be substituted—
“(2) Where an initial allowance is made in respect of any of the expenditure, then—
(a) if that allowance is made in respect of an additional VAT liability incurred after the building or structure is first used, the amount of that allowance shall be treated as written off as at the time at which the liability is incurred; and
(b) in any other case, the amount of the allowance shall be treated as written off as at the time when the building or structure is first used.”
(2) After subsection (12) of that section there shall be inserted—
“(12A) Where an additional VAT rebate is made in respect of any of the expenditure, there shall be treated as written off as at the time at which the rebate is made an amount equal to the rebate.”
(3) In subsection (13) (application of subsections (1) to (12) to the Crown) for “(12) there shall be substituted “(12A) ”.

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Source: https://www.legislation.gov.uk/ukpga/1991/31/schedule/14/paragraph/5 (the official version)
Page: https://openlegislation.uk/finance-act-1991/schedule-14/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.