Report Builder returning "Expression expected" on a textbox

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I'm confused, how is this not an expression? I get the error in the title using the expression below as a placeholder for a textbox.

=IF(COUNT(Fields!item.Value, "FGInputTest")=0,"Item and lot combination do not exist", First(Fields!item.Value, "FGInputTest"))
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The SSRS if statement is spelt 'Iif' not 'If'