The Value Added Tax Regulations 1995

Records required to be kept by the claimant U.K.

168.  —

(1) Any person who makes a claim to the Commissioners shall keep a record of that claim.

(2) Save as the Commissioners may otherwise allow, the record referred to in paragraph (1) above shall consist of the following information in respect of each claim made—

(a) in respect of each relevant supply for that claim—

(i) the amount of VAT chargeable,

(ii) the prescribed accounting period in which the VAT chargeable was accounted for and paid to the Commissioners,

(iii) the date and number of any invoice issued in relation thereto or, where there is no such invoice, such information as is necessary to identify the time, nature and purchaser thereof, and

(iv) any payment received therefor,

(b) the outstanding amount to which the claim relates,

(c) the amount of the claim, F1 ...

(d) the prescribed accounting period in which the claim was made[F2 , and

(e) a copy of the notice required to be given in accordance with regulation 166A]

(3) Any records created in pursuance of this regulation shall be kept in a single account to be known as the “refunds for bad debts account”.

Textual Amendments

F1 Word in reg. 168(2)(c) omitted (1.5.1997) by virtue of The Value Added Tax (Amendment) Regulations 1997 (S.I. 1997/1086), regs. 1, 13(a)

F2 Reg. 168(2)(e) and word added (1.5.1997) by The Value Added Tax (Amendment) Regulations 1997 (S.I. 1997/1086), regs. 1, 13(b)

Commencement Information

I1 Reg. 168 in force at 20.10.1995, see reg. 1