F1PART 15AGOODS USED FOR NON-BUSINESS PURPOSES DURING THEIR ECONOMIC LIFE
Value of a relevant supply116F
Where a prescribed accounting period in which a relevant supply occurs immediately follows a prescribed accounting period during which the goods whose use gives rise to that supply were not used or made available for use for any purpose, element “A” of the formula in regulation 116E shall (without prejudice to any other element of the formula) comprise the total number of months falling within the economic life concerned covered by
a
the prescribed accounting period in which the relevant supply occurs; and
b
all preceding prescribed accounting periods which commence after the end of the prescribed accounting period during which the goods were last used or made available for use for any purpose before the prescribed accounting period in which the relevant supply occurs.
Pt. 15A inserted (1.11.2007) by The Value Added Tax (Amendment) (No. 7) Regulations 2007 (S.I. 2007/3099), regs. 1(2)(b), 4