The Value Added Tax (Amendment) (No. 2) Regulations 1996

• Citation: S.I. 1996/1198
• Sections: 4

Section 1

These Regulations may be cited as the Value Added Tax (Amendment) (No. 2) Regulations 1996 and shall come into force on 1st June 1996.

Section 2

The Value Added Tax Regulations 1995 shall be amended as follows.

Section 3

After regulation 40 there shall be inserted the following:

(40A) Where the Commissioners in exercise of their power under section 28(2A) of the Act have directed the manner in which payments on account under section 28 of the Act are to be made, a person who is liable to make such payments shall also pay any amount of VAT payable in respect of a return for any prescribed accounting period in the like manner.

Section 4

After regulation 46 there shall be inserted the following:

(46A)

(1) A payment on account and a payment in respect of a return to which regulation 40A above applies shall not be treated as having been made by the last day on which it is required to be made unless it is made in such a manner as secures that all the transactions can be completed that need to be completed before the whole of the amount becomes available to the Commissioners.

(2) For the purposes of this regulation and regulation 47 below, references to a payment being made by any day include references to its being made on that day.