Finance Act 1977

15 Registration limits

(1) Paragraphs 1 and 2 of Schedule 1 to the Finance Act 1972 (liability to be registered) shall be amended as follows.

(2) In paragraph 1, in the provisions before the Table, for " £5,000 " (in both places) there shall be substituted " £7,500 " and in the second column of the Table for " 1,750 ", " 3,000 ", "4,250" and "5,000" there shall be substituted respectively " 2,625 ", " 4,500 ", " 6,375 " and " 7,500 ".

(3) In paragraph 2 for " £4,000 " (in both places) there shall be substituted " £6,000 ", and for "£1,250 " there shall be substituted " £1,875 ".

(4) In section 20(1) of that Act (registration of local authorities) for "£5,000" (in both places) there shall be substituted " £7,500 ".

(5) In Schedule 2 to that Act, at the end of paragraph 3 (deemed supply of business assets, where business proprietor de-registered, except in certain cases), there shall be added— “or

(c) the tax on the deemed supply would be not more than £50”.

(6) Subsection (5) above shall not come into force until 5th August 1977, and subsections (1) to (4) not until 1st October 1977.