Section 24(1)

Subject to the following provisions of this section, “input tax”, in relation to a taxable person, means the following tax, that is to say— being (in each case) goods or services used or to be used for the purpose of any business carried on or to be carried on by him. VAT on the supply to him of any goods or services; ...; and VAT paid or payable by him on the importation of any goods ...,

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