The Value Added Tax (Payments on Account) (No.2) Order 1992

Persons to whom this Order applies

5.—(1) Subject to paragraphs (2) and (3) below and article 12 below, a taxable person falls within this article if the total amount of tax which he was liable to pay by reference to the prescribed accounting periods the ends of which fell within the period of one year ending on the last day of his last prescribed accounting period ending before 1st April 1991 exceeded £2,000,000.

(2) Paragraph (1) above shall not apply to a taxable person if—

(a) the total amount of tax which he was liable to pay by reference to the prescribed accounting periods the ends of which fell within the period of one year ending on the last day of his last prescribed accounting period ending before 1st April 1990 did not exceed £2,000,000, and

(b) the total amount of tax which he was liable to pay by reference to the prescribed accounting periods the ends of which fell within the period of one year ending on the last day of his last prescribed accounting period ending before 1st April 1992 did not exceed £2,000,000.

(3) Where in any of the years ending 31st March 1990, 31st March 1991 and 31st March 1992 a prescribed accounting period of the taxable person did not begin on the first day or did not end on the last day of a month, the period of one year shall, for the purpose of this article, be regarded as having comprised those prescribed accounting periods which related to the tax periods ending within the years ending 31st March 1990, 31st March 1991 and 31st March 1992 respectively to which references are shown in the certificate of registration issued to him.