- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
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(This note is not part of the Regulations)
These regulations, which come into force on 1st January 1998 amend the rules governing the time when a VAT charge arises on a supply of construction services. The amendments prevent avoidance of VAT involving the deferral of a VAT charge under contrived contracts where payment for construction services was not due for many years.
Regulations 3 and 4 ensure that supplies of construction services covered by stage payments will be taxed in accordance with the amended rule for construction services, and not in accordance with other rules in the VAT Regulations, which concern continuous supplies of services and retention payments.
Regulation 5 amends the former rule for construction services covered by stage payments. Under the old rule it was the case that a VAT charge arose when payment was received by the supplier, or when a VAT invoice was issued. This will remain the case under the new rule, but in addition there will be a VAT charge 18 months after the construction services have been completed, on any part of the full charge for the construction services for which invoices have not already been issued or payments made.
The amendment includes a transitional relief, so that construction services completed before 9th December 1997 will be unaffected by the new rules.
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