The Value Added Tax (Accounting and Records) (Amendment) Regulations 1994

Statutory Instruments

1994 No. 803

VALUE ADDED TAX

The Value Added Tax (Accounting and Records) (Amendment) Regulations 1994

Made

17th March 1994

Laid before the House of Commons

18th March 1994

Coming into force

1st May 1994

The Commissioners of Customs and Excise, in exercise of the powers conferred on them by paragraph 2(4) of Schedule 7 to the Value Added Tax Act 1983(1) and sections 14(5A)(b) and 14A(4) of the Finance Act 1985(2) 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 (Accounting and Records) (Amendment) Regulations 1994 and shall come into force on 1st May 1994.

2.  In regulation 5(3) of the Value Added Tax (Accounting and Records) Regulations 1989(3), after the word “discovered” there shall be inserted the words “by the taxable person”.

Alexander W. Russell

Commissioner of Customs and Excise

New King’s Beam House,

22 Upper Ground,

London,

SE1 9PJ

17th March 1994

Explanatory Note

(This note is not part of the Regulations)

These Regulations, which come into force on 1st May 1994, amend regulation 5(3) of the Value Added Tax (Accounting and Records) Regulations 1989 so that an error may be corrected in the value added tax account in accordance with that regulation if it is the taxable person who has discovered the error.

(1)

1983 c. 55; section 48(1) defines “the Commissioners” as meaning the Commissioners of Customs and Excise and “regulations” as meaning regulations made by the Commissioners; paragraph 2(4) of Schedule 7 was amended by section 25 of the Finance Act 1989 (c. 26).

(2)

1985 c. 54; sections 14(5A) and 14(A) were inserted by sections 16(1) and 17 of the Finance Act 1988 (c. 39).

(3)

S.I. 1989/2248; the only relevant amending instrument is S.I. 1993/761.