Finance Act 2022

71 Margin schemes and removal or export of goods: zero-rating U.K.

(1) VATA 1994 is amended as follows.

(2) In section 30 (zero-rating), after subsection (6) insert—

“(6A) Subsection (6) does not apply in the case of goods exported from Great Britain if, in respect of the supply, the supplier exercises an option under an order made under section 50A.”

(3) In paragraph 3 of Schedule 9ZB (movements between Northern Ireland and Great Britain), after sub-paragraph (1) insert—

“(1A) A supply of goods that involves the removal of goods from Great Britain to Northern Ireland is not zero-rated under sub-paragraph (1) if, in respect of the supply, the supplier exercises an option under an order made under section 50A.”

(4) Subsections (1) to (3) come into force on such day as the Treasury may by regulations made by statutory instrument appoint.

(5) Regulations under this section may specify different days for different purposes.

(6) The Treasury may by regulations made by statutory instrument make transitional, transitory or saving provision in connection with the coming into force of subsections (1) to (3), including provision making different provision for different purposes.

Commencement Information

I1 S. 71(1)-(3) in force at 1.5.2023 by S.I. 2023/69, reg. 2 (with reg. 3)