The Value Added Tax (Supplies by Retailers) (Amendment) Regulations 1987

Statutory Instruments

1987 No. 1712

VALUE ADDED TAX

The Value Added Tax (Supplies by Retailers) (Amendment) Regulations 1987

Made

28th September 1987

Laid before the House of Commons

7th October 1987

Coming into force

30th October 1987

The Commissioners of Customs and Excise, by virtue of the powers conferred upon them by paragraph 2(3) of Schedule 7 to the Value Added Tax Act 1983(1) and of all other powers enabling them in that behalf, hereby make the following Regulations:

1.—(1) These Regulations may be cited as the Value Added Tax (Supplies by Retailers) (Amendment) Regulations 1987 and shall come into force on 30th October 1987.

(2) In these Regulations the “principal regulations” means the Value Added Tax (Supplies by Retailers) Regulations 1972(2).

2.  For regulation 3 of the principal regulations there shall be substituted the following:

“3.   The Commissioners may refuse to permit the value of taxable supplies to be determined in accordance with a scheme if it appears to them—

(a) that the use of any particular scheme does not produce a fair and reasonable valuation during any period; or

(b) that it is necessary to do so for the protection of the revenue; or (c) that the retailer could reasonably be expected to account for tax in accordance with Regulations made under paragraph 2(1) of Schedule 7 to the Value Added Tax Act 1983.”.

Colin C Finlinson

Commissioner of Customs and Excise

King’s Beam House Mark Lane London EC3R 7HE

28th September 1987

Explanatory Note

(This note is not part of the Regulations)

These Regulations make minor amendments to regulation 3 of the Value Added Tax (Supplies by Retailers) Regulations 1972 and clarify the Commissioners' powers to refuse the use of a retail scheme method for determining the value of taxable supplies.

(1)

1983 c. 55.

(2)

S.I. 1972/1148, to which there are amendments not relevant to these Regulations.