Finance Act 2000

[F1 43B (1) This paragraph applies where— U.K.

(a) a taxable supply (“the original supply”) has been made to any person (“the recipient”),

[F2 (b) the original supply was made on the basis that it was, to any extent—

F3 (i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(ii) a reduced-rate supply of electricity, or

(iii) a reduced-rate supply of any other taxable commodity,]

(c) it is later determined that the original supply was (or was to some extent) a different kind of supply, and

(d) the amount payable on the supply on the basis mentioned in paragraph (b) is less than the amount payable on the supply on the basis of the later determination.

(2) For the purposes of this Schedule—

(a) the recipient is deemed to make a taxable supply to itself of the taxable commodity, and

(b) the amount payable by way of levy on that deemed supply is—

(i) the amount payable on the original supply on the basis of the later determination mentioned in sub-paragraph (1)(c), less

(ii) the amount payable on the original supply on the basis mentioned in sub-paragraph (1)(b).

(3) This paragraph does not apply where a supply is treated as not being a reduced-rate supply by virtue of paragraph 45B.]

Textual Amendments

F1 Sch. 6 paras. 43A, 43B and cross-headings inserted (with effect in accordance with Sch. 30 para. 19 of the amending Act) by Finance Act 2012 (c. 14), Sch. 30 para. 11

F2 Sch. 6 para. 43B(1)(b) substituted (with effect in accordance with Sch. 30 para. 23 of the amending Act) by Finance Act 2012 (c. 14), Sch. 30 para. 21

F3 Sch. 6 para. 43B(1)(b)(i) omitted (with effect in accordance with Sch. 20 para. 10(2)(3) of the amending Act) by virtue of Finance Act 2014 (c. 26), Sch. 20 paras. 5, 10(1)