HC Deb 26 March 1990 vol 170 c146

Resolved, That, in relation to transfers of assets made on or after 1st April 1990, section 29A of the Value Added Tax Act 1983 shall have effect with the following amendments—

  1. (1) In subsection (1) for "and (3)" there shall be substituted "to (3A)".
  2. (2) The following subsection shall be inserted after subsection (3)—

"(3A) Subsection (4) below shall not apply to the extent that the chargeable assets consist of capital items in respect of which regulations made under section 15(3) and

(4) above, and in force when the assets are transferred, provide for adjustment to the deduction of input tax."

And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.