The Value Added Tax Regulations 1995

[F1Time when a repayment of VAT must be madeU.K.

173V.—(1) VAT to which a claimant is entitled to repayment under this Part must be paid by the Commissioners within 10 business days of the expiry of the relevant period in relation to that VAT.

(2) For these purposes, a “business day” is any day except—

(a)Saturday, Sunday, Good Friday or Christmas Day;

(b)a bank holiday under the Banking and Financial Dealings Act 1971;

(c)a day appointed by Royal proclamation as a public fast or thanksgiving day; or

(d)a day declared by an order under section 2(1) of the Banking and Financial Dealings Act 1971 to be a non-business day.]

Textual Amendments