The Value Added Tax (Cash Accounting) (Amendment) (No. 2) Regulations 1990

Statutory Instruments

1990 No. 1943

VALUE ADDED TAX

The Value Added Tax (Cash Accounting) (Amendment) (No. 2) Regulations 1990

Made

27th September 1990

Laid before the House of Commons

27th September 1990

Coming into force

1st October 1990

The Commissioners of Customs and Excise, in exercise of the powers conferred upon them by sections 14(1) and 48(1) of, and paragraph 2(3A) 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.  These Regulations may be cited as the Value Added Tax (Cash Accounting) (Amendment) (No. 2) Regulations 1990 and shall come into force on 1st October 1990.

2.  In regulations 4(1)(a), 6(2)(a) and 6(2)(b) of the Value Added Tax (Cash Accounting) Regulations 1987(2), for “£250,000” there shall be substituted “£300,000”.

Diana Seammen

Commissioner of Customs and Excise

New King’s Beam House,

22 Upper Ground,

London SE1 9PJ

27th September 1990

Explanatory Note

(This note is not part of the Regulations)

These Regulations which come into force on 1st October 1990 amend the Value Added Tax (Cash Accounting) Regulations 1987 S.I. No. 1987/1427. Eligibility for membership of the cash accounting scheme is determined by the value of taxable supplies (excluding VAT) made in a year. The Regulations increase the limit from £250,000 to £300,000.

(1)

1983 c. 55; section 14(1) was amended by, and paragraph 2(3A) of Schedule 7 was inserted by, section 11 of the Finance Act 1987 (c. 16); section 48(1) defines “the Commissioners” as meaning the Commissioners of Customs and Excise and “regulations” as meaning regulations made by the Commissioners.

(2)

S.I. 1987/1427.