- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (31/07/1997)
- Gwreiddiol (Fel y'i Deddfwyd)
Point in time view as at 31/07/1997.
There are currently no known outstanding effects for the Finance Act 1997, Section 40.
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(1)In section 43 of the M1Value Added Tax Act 1994 (groups of companies), after subsection (1) there shall be inserted the following subsections—
“(1AA)Where—
(a)it is material, for the purposes of any provision made by or under this Act (“the relevant provision”), whether the person by or to whom a supply is made, or the person by whom goods are acquired or imported, is a person of a particular description,
(b)paragraph (b) or (c) of subsection (1) above applies to any supply, acquisition or importation, and
(c)there is a difference that would be material for the purposes of the relevant provision between—
(i)the description applicable to the representative member, and
(ii)the description applicable to the body which (apart from this section) would be regarded for the purposes of this Act as making the supply, acquisition or importation or, as the case may be, as being the person to whom the supply is made,
the relevant provision shall have effect in relation to that supply, acquisition or importation as if the only description applicable to the representative member were the description in fact applicable to that body.
(1AB)Subsection (1AA) above does not apply to the extent that what is material for the purposes of the relevant provision is whether a person is a taxable person.”
(2)In subsection (2) of that section (self supplies), at the end there shall be inserted “and may provide for that purpose that the representative member is to be treated as a person of such description as may be determined under the order.”
(3)Subsection (1) above has effect in relation to any supply made after 26th November 1996 and in relation to any acquisition or importation taking place after that date.
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