Finance Act 1972

54 Abolition of purchase tax

(1) Purchase tax shall not be charged in any case where, under the provisions of the Purchase Tax Act 1963, it would become due after 31st March 1973 or where, under the enactments applied by section 25 of that Act to tax chargeable under section 11 thereof, it would be payable after that date.

(2) Subsection (1) of this section shall not affect—

(a) the operation of section 13(4) of the Purchase Tax Act 1963 (tax on imported goods not accounted for to satisfaction of Commissioners) in relation to goods deemed to be imported as mentioned in subsection (3) of that section on a representation made before April 1973; or

(b) any liability to tax arising on the breach of a condition subject to which relief from purchase tax was given.

(3) Where a person carries on a business before 1st April 1973 in such circumstances that he is required under section 4(1) of the Purchase Tax Act 1963 to be registered but the relevant date mentioned in section 5(1) of that Act (applications for registration) falls not earlier than fourteen days before that day, that section shall have effect as if it required him to give to the Commissioners of Customs and Excise, before the expiration of fourteen days from the relevant date, notice in writing of his so carrying on the business.

(4) Notwithstanding anything in section 14 of the Purchase Tax Act 1963, no process completed after 31st March 1973 shall be a chargeable process within the meaning of that Act.

(5) Where a person is, on 31st March 1973, under a duty to preserve records and accounts kept under section 24 of the Purchase Tax Act 1963, that duty, and his obligation to produce them for inspection, shall continue after that date, notwithstanding that he is no longer registered or required to be registered under that Act.

(6) In relation to any time falling after 31st March 1973 references to registered persons in section 31 of the [1963 c. 9.] Purchase Tax Act 1963 and in any regulations made under that section before the passing of this Act shall have effect as references to persons who were registered persons before 1st April 1973 ; and the reference to a registered person in section 12(3) of that Act shall be construed accordingly.

(7) Regulations under section 31 of the Purchase Tax Act 1963 may make provision for requiring persons—

(a) to keep, on and after 1st October 1972, and preserve for such period as may be specified in the regulations, records in such form and containing such particulars as may be so specified of chargeable goods in their possession in circumstances where the delivery of the goods is liable, under section 40(4) of that Act, to be treated as a delivery under a chargeable purchase, and of such purchases made of such goods, and to produce the records for inspection by any officer or other person authorised in that behalf by the Commissioners of Customs and Excise at such time and at such place as that officer or person may require; and

(b) to furnish, at such times and places as may be specified in the regulations, to persons who have delivered such goods statements in such form and containing such particulars of goods remaining in the possession of the persons furnishing the statements and of purchases made of the goods as may be so specified, and to require such statements to contain a declaration, signed by the person to whom the goods were delivered, or on his behalf, by such persons as may be specified in the regulations, that the statement is to the best of his knowledge correct and complete.

(8) The enactments mentioned in Part I of Schedule 28 to this Act are hereby repealed, to the extent specified in the third column of that Part, as from the end of March 1973 ; and the enactments mentioned in Part II of that Schedule are hereby repealed, to the extent specified in the third column of that Part, as from such date as the Treasury may by order made by statutory instrument appoint, and different dates may be so appointed for different enactments.