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Regulation 9 Input tax adjustments: capital items

Original text. Later amendments are not shown.

In regulation 115 (method of adjustment) for paragraph (8) substitute—

“(8)

For the purposes of paragraphs (9) and (10) below, a “specified return” means a return specified —

(a)

in paragraph (6) above,

(b)

in subparagraph (a) or (b) of that paragraph, or

(c)

in paragraph (7) above.

(9)

Subject to paragraph (10) below, the Commissioners shall not allow the taxable person to use a return other than a specified return unless it is the return for a prescribed accounting period commencing within 4 years of the end of the prescribed accounting period to which the specified return relates.

(10)

The Commissioners shall not allow the taxable person to use a return other than a specified return where the specified return is the return for a prescribed accounting period finishing on or before 31st March 2006.”.