OpenLegislation

Paragraph 14

Original text. Later amendments are not shown.

In note 44, for the words “income tax” to the end, substitute “and income tax, national insurance contributions and net VAT paid. “Net VAT” means the excess of any value added tax paid by you in respect of taxable supplies made to you, over any such tax received by you in respect of taxable supplies made by you, calculated with reference to the previous 12 months.”.