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Finance Act 2007

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Changes over time for: Paragraph 9

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Changes to legislation:

Finance Act 2007, Paragraph 9 is up to date with all changes known to be in force on or before 14 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

9U.K.After that paragraph insert—

Reduced-rate supplies: deemed supplyU.K.

45A(1)This paragraph applies where—

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

(b)the supply was made on the basis that it was a reduced-rate supply, and

(c)it is later determined that the supply was not a reduced-rate supply.

(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 80 per cent. of the amount that would be payable if the supply were not a reduced-rate supply.

Commencement Information

I1Sch. 2 para. 9 in force at 1.11.2007 by S.I. 2007/2902, art. 2(1) (with art. 2(3)(4))

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