Commentary on Sections Glossary History Section 449: Effect on balancing charges of additional VAT rebates in earlier chargeable periods
1580.This section is based on section 138(1), (2) and (2A) of CAA 1990.
1581.The treatment of VAT rebates as disposal values under section 448 means that, in contrast to section 138(3A) of CAA 1990, the receipt of the VAT rebate may not lead to a balancing charge because there are unclaimed allowances under section 442(4).
1582.To the extent that an unclaimed allowance shields a disposal value in one chargeable period this section reduces, for later chargeable periods, that unclaimed allowance by the amount shielded so that relief is not obtained more than once. See Change 49 in Annex 1.