Finance Act 2004

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Amendment of section 12 (deduction for tax borne or paid) of Principal Act.

60.—Section 12 of the Principal Act is amended in subsection (1)(a) by inserting the following after subparagraph (v):

“(va) the tax chargeable during the period, being tax for which the taxable person is liable by virtue of section 8(1A)(f) in respect of goods which are installed or assembled; but this subparagraph shall apply only where the taxable person would be entitled to a deduction of that tax elsewhere under this subsection if that tax had been charged to such person by another taxable person,

(vb) the tax chargeable during the period, being tax for which the taxable person is liable by virtue of section 8(1A)(g) in respect of the supply to such person of gas through the natural gas distribution network, or of electricity; but this subparagraph shall apply only where the taxable person would be entitled to a deduction of that tax elsewhere under this subsection if that tax had been charged to such person by another taxable person,”.