Modifications etc. (not altering text)
C1Pt. 5 applied (31.12.2020) by The Value Added Tax (Northern Ireland) (EU Exit) Regulations 2020 (S.I. 2020/1546), regs. 1, 34 (with reg. 33); S.I. 2020/1641, reg. 2, Sch.
C2Pt. 5 applied (31.12.2020) by The Value Added Tax (Northern Ireland) (EU Exit) Regulations 2020 (S.I. 2020/1546), regs. 1, 16 (with reg. 15); S.I. 2020/1641, reg. 2, Sch.
[F124C.—(1) For the purposes of regulations 24A and 24B, “payment”—U.K.
(a)means a payment in money and “pay” and “pays” are to be construed accordingly; and
(b)includes cases where a person—
(i)sets off an amount against a corresponding monetary liability of another person; or
(ii)makes a “relevant payment” as defined in regulation 38ZA(2).
(2) For the purposes of applying regulation 38ZA, the reference in regulation 24A(b) and (c) and in regulation 24B(b) to—
(a)“the supplier” includes a reference to the “first supplier” as defined in regulation 38ZA(2); and
(b)“the recipient of the supply” includes a reference to the “final consumer” as defined in regulation 38ZA(2).]
Textual Amendments
F1Regs. 24A-24C inserted (1.9.2019) by The Value Added Tax (Amendment) Regulations 2019 (S.I. 2019/1048), regs. 1, 6 (with reg. 2)