# Finance Act 2000, Paragraph 42D


(1) This paragraph applies if—
(a) an amount is determined to be payable by way of levy on a deemed supply of a quantity of a commodity under paragraph 24A or 24B, but
(b) it is later determined that that amount is too low.
(2) For the purposes of this Schedule—
(a) the person who made the deemed supply is deemed to make a further taxable supply to himself of the quantity of the commodity, and
(b) the amount payable by way of levy on that further deemed supply is—
(i) the total amount payable on the first deemed supply on the basis of the later determination mentioned in sub-paragraph (1)(b), less
(ii) the amount previously determined to be payable on the first deemed supply.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/6/paragraph/42D (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-6/paragraph-42D
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.