The Value Added Tax (Accounting and Records) (Amendment) Regulations 1992

Explanatory Note

(This note is not part of the Regulations)

These Regulations, which come into force on 1st January 1993, implement the requirements under Article 22.2 of the directive of the Council of the European Communities dated 17th May 1977 No. 77/388/EEC (OJ No. L145), 13.7.1977, p.1) and the amendments of that directive by the directive of that Council dated 16th December 1991 No. 91/680/EEC (OJ No. L376, 31.12.1991, p.1) (Amendments with a view to the abolition of fiscal frontiers).

These Regulations amend the Value Added Tax (Accounting and Records) Regulations 1989.

Regulation 3 amends regulation 2 to require the keeping of records relating to acquisitions from other member States of the European Economic Community and transfers, dispatches and transportations of goods to other member States.

Regulation 4 introduces regulation 2A which requires non-taxable persons to keep records relating to acquisitions of new means of transport and goods subject to excise duty, as specified in a notice by the Commissioners.

Regulation 5 omits regulation 3.

Regulation 6 amends regulation 4 to expand the required content of the VAT account to include tax due and deductible on acquisitions.

Regulation 7 introduces regulation 4A to require the keeping of a register of temporary movement of goods sent to and received from other member States.

Regulation 8 amends regulation 8 (which provides for determining the amounts to be shown in VAT returns) having regard to the revision of VAT return forms made by the Value Added Tax (General) (Amendment) (No. 4) Regulations 1992.