- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (10/03/1999)
- Gwreiddiol (a wnaed Fel)
Version Superseded: 01/01/2000
Point in time view as at 10/03/1999. This version of this provision has been superseded.
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There are currently no known outstanding effects for the The Value Added Tax Regulations 1995, Section 107.
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107. —
(1) Where a taxable person to whom a longer period is applicable has provisionally attributed an amount of input tax to taxable supplies in accordance with a method, and where all his exempt input tax in that longer period cannot be treated as attributable to taxable supplies under regulation F1... 106, and save as the Commissioners may dispense with the following requirement to adjust, he shall—
(a)determine for the longer period the amount of input tax which is attributable to taxable supplies according to the method used in the prescribed accounting periods,
(b)ascertain whether there has been, overall, an over-deduction or an under-deduction of input tax, having regard to the above-mentioned determination and to the sum of the amounts of input tax, if any, which were deducted in the returns for the prescribed accounting periods, and
(c)include any such amount of over-deduction or under-deduction in a return for the first prescribed accounting period next following the longer period, except where the Commissioners allow another return to be used for this purpose.
(2) Where a taxable person to whom a longer period is applicable has provisionally attributed an amount of input tax to taxable supplies in accordance with a method, and where all his exempt input tax in that longer period can be treated as attributable to taxable supplies under regulation F2... 106, he shall—
(a)calculate the difference between the total amount of his input tax for that longer period and the sum of the amounts of input tax deducted in the returns for the prescribed accounting periods, and
(b)include any such amount of under-deduction in a return for the first prescribed accounting period next following the longer period, except where the Commissioners allow another return to be used for this purpose.
Textual Amendments
F1Words in reg. 107(1) omitted (with effect in accordance with reg. 1(3)(4) of the amending S.I.) by virtue of The Value Added Tax (Amendment) (No. 2) Regulations 1999 (S.I. 1999/599), regs. 1(1), 5
F2Words in reg. 107(2) omitted (with effect in accordance with reg. 1(3)(4) of the amending S.I.) by virtue of The Value Added Tax (Amendment) (No. 2) Regulations 1999 (S.I. 1999/599), regs. 1(1), 5
Commencement Information
I1Reg. 107 in force at 20.10.1995, see reg. 1
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