# Finance Act 1996, Paragraph 45

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

(1) This paragraph applies where—
(a) material undergoes a ... disposal,
(b) a payment falls to be made under a disposal contract relating to the material, and
(c) after the making of the contract there is a change in the tax chargeable on the ... disposal.
(2) In such a case the amount of any payment mentioned in sub-paragraph (1)(b) above shall be adjusted, unless the disposal contract otherwise provides, so as to reflect the tax chargeable on the ... disposal.
(3) For the purposes of this paragraph a disposal contract relating to material is a contract providing for the disposal of the material, and it is immaterial—
(a) when the contract was made;
(b) whether the contract also provides for other matters;
(c) whether the contract provides for a method of disposal and (if it does) what method it provides for.
(4) The reference in sub-paragraph (1) above to a change in the tax chargeable is a reference to a change—
(a) to or from no tax being chargeable, or
(b) in the amount of tax chargeable.

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Source: https://www.legislation.gov.uk/ukpga/1996/8/schedule/5/paragraph/45 (the official version)
Page: https://openlegislation.uk/finance-act-1996/schedule-5/paragraph-45
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.