The Value Added Tax (Increase of Registration Limits) Order 2002

Statutory Instruments

2002 No. 1098

VALUE ADDED TAX

The Value Added Tax (Increase of Registration Limits) Order 2002

Made

17th April 2002

Laid before the House of Commons

17th April 2002

Coming into force

25th April 2002

The Treasury, in exercise of the powers conferred on them by paragraph 15 of Schedule 1 and paragraph 9 of Schedule 3 to the Value Added Tax Act 1994(1) and of all other powers enabling them in that behalf, hereby make the following Order:

1.  This Order may be cited as the Value Added Tax (Increase of Registration Limits) Order 2002 and comes into force on 25th April 2002.

2.  In Schedule 1 to the Value Added Tax Act 1994 (registration in respect of taxable supplies)—

(a) in paragraph 1(1)(a), (1)(b), (2)(a) and (2)(b), for “£54,000” substitute “£55,000”; and

(b) in paragraphs 1(3) and 4(1) and (2), for “£52,000” substitute “£53,000”.

3.  In Schedule 3 to the Value Added Tax Act 1994 (registration in respect of acquisitions from other member States)—

(a) in paragraph 1(1) and (2); and

(b) in paragraph 2(1)(a), (1)(b) and (2),

for “£54,000” substitute “£55,000”.

Tony McNulty

Anne McGuire

Two of the Lords Commissioners of Her Majesty’s Treasury

17th April 2002

Explanatory Note

(This note is not part of the Order)

This Order increases the VAT registration limits for taxable supplies and for acquisitions from other member States from £54,000 to £55,000, with effect from 25th April 2002.

This Order also increases the limit for cancellation of registration in the case of taxable supplies from £52,000 to £53,000, and in the case of acquisitions from other member States from £54,000 to £55,000, with effect from 25th April 2002.

(1)

1994 c. 23; Schedules 1 and 3 were last varied by S.I. 2001/640.