The Value Added Tax (Annual Accounting) (Amendment) Regulations 1991

• Citation: S.I. 1991/532
• Sections: 7

Section 1

These Regulations may be cited as the Value Added Tax (Annual Accounting) (Amendment) Regulations 1991 and shall come into force on 9th April 1991.

Section 2

The Value Added Tax (Annual Accounting) Regulations 1988 shall be amended in accordance with the following provisions of these Regulations.

Section 3

In sub-paragraph (a) of regulation 3, for the words “current account year” there shall be substituted the words “current accounting year”.

Section 4

In—

(a) sub-paragraph (1)(b) of regulation 4, and

(b) sub-paragraphs (2)(a) and (2)(b) of regulation 5, for

“£250,000” there shall be substituted “£300,000”.

Section 5

In regulation 4(1)(c) there shall be deleted the words from “, and has paid” to “Finance Act 1985”.

Section 6

In regulation 5–

(a) in paragraph (2), for the words from “shall” to “years” there shall be substituted the words “may remain in the scheme”, and

(b) in sub-paragraph (2)(c) there shall be deleted the word “earlier”.

Section 7

In paragraph (1) of regulation 8 after sub-paragraph (e) there shall be inserted the following–

; or

an authorised person has not, in relation to a return made by him prior to authorisation, paid to the Commissioners all such sums shown as due thereon; or

an authorised person has not, in relation to any assessment made either under Schedule 7 to the Act or under section 21 of the Finance Act 1985 , paid to the Commissioners all such sums shown as due thereon