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Changes over time for: Section 120


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 01/03/2024.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2021, Section 120.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
120Late payment interest and repayment interest: VATU.K.
(1)Schedule 29 contains amendments of FA 2009 relating to late payment interest, repayment interest and VAT.
(2)Schedule 29 comes into force on such day as the Treasury may by regulations appoint.
(3)Different days may be appointed for different purposes.
(4)The Treasury may by regulations make transitional, transitory or saving provision in connection with the coming into force of any provision in Schedule 29.
(5)The Treasury may by regulations make provision that is consequential on Schedule 29.
(6)Regulations under subsection (5) may—
(a)include provision amending, repealing or revoking any provision of an Act or subordinate legislation whenever passed or made (including this Act and any Act amended by it);
(b)make supplementary, incidental, transitional, transitory or saving provision.
(7)In subsection (6) “subordinate legislation” has the same meaning as in the Interpretation Act 1978.
(8)The power to make regulations under subsection (4) or (5) includes power to make different provision for different purposes.
(9)Regulations under this section are to be made by statutory instrument.
(10)A statutory instrument containing (whether alone or with other provision) regulations under subsection (5) that amend or repeal provision made by an Act is subject to annulment in pursuance of a resolution of the House of Commons.
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