This is the original version (as it was originally enacted).
4(1)Section 88 of the Value Added Tax Act 1994 (supplies spanning change of rate etc.) is amended as follows.
(2)In subsection (1) (section applies where there is a change in the rate of VAT in force under section 2 or the descriptions of exempt or zero-rated supplies or acquisitions)—
(a)after “section 2” insert “or 29A”, and
(b)for “or zero-rated” (in both places) substitute “, zero-rated or reduced-rate”.
(3)In subsection (2) (election to disregard time of supply rules), after “any question whether it is zero-rated or exempt” insert “or a reduced-rate supply”.
(4)In subsection (4) (election to disregard time of acquisition rules), after “any question whether it is zero-rated or exempt” insert “or a reduced-rate acquisition”.
(5)After subsection (7) insert—
“(8)References in this section—
(a)to a supply being a reduced-rate supply, or
(b)to an acquisition being a reduced-rate acquisition,
are references to a supply, or (as the case may be) an acquisition, being one on which VAT is charged at the rate in force under section 29A.”.
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