The Value Added Tax (Amendment) Regulations 2019

Amendment of the Value Added Tax Regulations 1995

8.  In regulation 38—

(a) after paragraph (4) insert—

“(4A) In the case of an increase in consideration, no entry may be made under paragraph (4) unless the recipient of the supply holds the debit note which the supplier is required to provide under regulation 15C(2).”;

(b) for paragraph (5) substitute—

“(5) Every entry required by this regulation must be made in that part of the VAT account which relates to the prescribed accounting period in which the increase in consideration or decrease in consideration occurs.”;

(c) omit paragraph (6);

(d) at the end of paragraph (7), after “regulations 34 and 35”, insert “except insofar as there is an error arising from a failure to make any entry required by this regulation”; and

(e) after paragraph (7) insert—

“(8) Paragraphs (4A) and (5) do not apply in cases where an adjustment in relation to an increase or decrease in consideration has been made in accordance with this regulation before 1st September 2019.”.