Schedule 11A, paragraph 2(1)

For the purposes of this Schedule, a taxable person obtains a tax advantage if— in any prescribed accounting period, the amount by which the output tax accounted for by him exceeds the input tax deducted by him is less than it would otherwise be, he obtains a VAT credit when he would not otherwise do so, or obtains a larger VAT credit or obtains a VAT credit earlier than would otherwise be the case, in a case where he recovers input tax as a recipient of a supply before the supplier accounts for the output tax, the period between the time when the input tax is recovered and the time when the output tax is accounted for is greater than would otherwise be the case, or in any prescribed accounting period, the amount of his non-deductible tax is less than it would otherwise be.

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Source: legislation.gov.uk · retrieved 2026-07-28