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Value Added Tax Act 1994

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Point in time view as at 30/06/1997.

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2(1)Regulations under this paragraph may require the keeping of accounts and the making of returns in such form and manner as may be specified in the regulations and may require taxable persons supplying goods or services in such cases, or to persons of such descriptions, as may be so specified to provide the persons supplied with invoices (to be known as “VAT invoices”) containing statements of such particulars as may be so specified of the supply, and of the persons by and to whom the goods or services are supplied and containing such an indication as may be required by the regulations of whether VAT is chargeable on the supply under this Act or the law of another member State and such particulars of any VAT which is so chargeable as may be so specified.U.K.

(2)The regulations may, where they require a VAT invoice to be provided in connection with any description of supply, require it to be provided within a prescribed time after the supply is treated as taking place, or at such time before the supply is treated as taking place as may be required by the regulations, and may allow for an invoice to be issued later than required by the regulations where it is issued in accordance with general or special directions given by the Commissioners.

[F1(2A)Regulations under this paragraph may confer power on the Commissioners to allow the requirements of any regulations as to the statements and other matters to be contained in a VAT invoice to be relaxed or dispensed with.]

(3)Regulations under this paragraph may require the submission to the Commissioners by taxable persons, at such times and intervals, in such cases and in such form and manner as may be—

(a)specified in the regulations; or

(b)determined by the Commissioners in accordance with powers conferred by the regulations,

of statements containing such particulars of transactions in which the taxable persons are concerned and which involve the movement of goods between member States, and of the persons concerned in those transactions, as may be prescribed.

(4)Regulations under this paragraph may make provision in relation to cases where—

(a)any goods which are subject to a duty of excise or consist in a new means of transport are acquired in the United Kingdom from another member State by any person;

(b)the acquisition of the goods is a taxable acquisition and is not in pursuance of a taxable supply; and

(c)that person is not a taxable person at the time of the acquisition,

for requiring the person who acquires the goods to give to the Commissioners such notification of the acquisition, and for requiring any VAT on the acquisition to be paid, at such time and in such form or manner as may be specified in the regulations.

(5)Regulations under this paragraph may provide for a notification required by virtue of sub-paragraph (4) above—

(a)to contain such particulars relating to the notified acquisition and any VAT chargeable thereon as may be specified in the regulations; and

(b)to be given, in prescribed cases, by the personal representative, trustee in bankruptcy, interim or permanent trustee, receiver, liquidator or person otherwise acting in a representative capacity in relation to the person who makes that acquisition.

(6)Regulations under this paragraph may make special provision for such taxable supplies by retailers of any goods or of any description of goods or of services or any description of services as may be determined by or under the regulations and, in particular—

(a)for permitting the value which is to be taken as the value of the supplies in any prescribed accounting period or part thereof to be determined, subject to any limitations or restrictions, by such method or one of such methods as may have been described in any notice published by the Commissioners in pursuance of the regulations and not withdrawn by a further notice or as may be agreed with the Commissioners; and

(b)for determining the proportion of the value of the supplies which is to be attributed to any description of supplies; and

(c)for adjusting that value and proportion for periods comprising two or more prescribed accounting periods or parts thereof.

(7)Regulations under this paragraph may make provision whereby, in such cases and subject to such conditions as may be determined by or under the regulations, VAT in respect of a supply may be accounted for and paid by reference to the time when consideration for the supply is received; and any such regulations may make such modifications of the provisions of this Act (including in particular, but without prejudice to the generality of the power, the provisions as to the time when, and the circumstances in which, credit for input tax is to be allowed) as appear to the Commissioners necessary or expedient.

(8)Regulations under this paragraph may make provision whereby, in such cases and subject to such conditions as may be determined by or under the regulations—

(a)VAT in respect of any supply by a taxable person of dutiable goods, or

(b)VAT in respect of an acquisition by any person from another member State of dutiable goods,

may be accounted for and paid, and any question as to the inclusion of any duty or agricultural levy in the value of the supply or acquisition determined, by reference to the duty point or by reference to such later time as the Commissioners may allow.

In this sub-paragraph “dutiable goods” and “duty point” have the same meanings as in section 18.

(9)Regulations under this paragraph may provide for the time when any invoice described in regulations made for the purposes of section 6(8)(b) or 12(1)(b) is to be treated as having been issued and provide for VAT accounted for and paid by reference to the date of issue of such an invoice to be confined to VAT on so much of the value of the supply or acquisition as is shown on the invoice.

(10)Regulations under this paragraph may make provision—

(a)for treating VAT chargeable in one prescribed accounting period as chargeable in another such period; and

(b)with respect to the making of entries in accounts for the purpose of making adjustments, whether for the correction of errors or otherwise; and

(c)for the making of financial adjustments in connection with the making of entries in accounts for the purpose mentioned in paragraph (b) above [F2and

(d)for a person, for purposes connected with the making of any such entry or financial adjustment, to be required to provide to any prescribed person, or to retain, a document in the prescribed form containing prescribed particulars of the matters to which the entry or adjustment relates; and

(e)for enabling the Commissioners, in such cases as they may think fit, to dispense with or relax a requirement imposed by regulations made by virtue of paragraph (d) above.]

(11)Regulations under this paragraph may make different provision for different circumstances and may provide for different dates as the commencement of prescribed accounting periods applicable to different persons.

(12)The provisions made by regulations under this paragraph for cases where goods are treated as supplied by a taxable person by virtue of paragraph 7 of Schedule 4 may require VAT chargeable on the supply to be accounted for and paid, and particulars thereof to be provided, by such other person and in such manner as may be specified by the regulations.

(13)Where, at the end of a prescribed accounting period, the amount of VAT due from any person or the amount of any VAT credit would be less than £1, that amount shall be treated as nil.

Textual Amendments

F1Sch. 11 para. 2(2A) inserted (29.4.1996) by 1996 c. 8, s. 38(2)

F2Sch. 11 para. 2(10)(d)(e) and word preceding it inserted (29.4.1996) by 1996 c. 8, s. 38(3)

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