- Latest available (Revised)
- Point in Time (01/08/2021)
- Original (As made)
Point in time view as at 01/08/2021.
There are currently no known outstanding effects for the The Value Added Tax Regulations 1995, Section 55L.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
55L.—(1) A taxable person shall be eligible to be authorised to account for VAT in accordance with the scheme at any time if—
(a)there are reasonable grounds for believing that—
(i)the value of taxable supplies to be made by him in the period of one year then beginning will not exceed [F2£150,000], and
F3(ii). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)he—
(i)is not a tour operator,
(ii)is not required to carry out adjustments in relation to a capital item under Part XV, or
(iii)does not intend to opt to account for the VAT chargeable on a supply made by him by reference to the profit margin on the supply, in accordance with the provisions of any Order made under section 50A of the Act,
(c)he has not, in the period of one year preceding that time—
(i)been convicted of any offence in connection with VAT,
(ii)made any payment to compound proceedings in respect of VAT under section 152 of the Customs and Excise Management Act 1979(1),
(iii)been assessed to a penalty under section 60 of the Act, or
(iv)ceased to operate the scheme, and
(d)he is not, and has not been within the past 24 months—
(i)eligible to be registered for VAT in the name of a group under section 43A of the Act,
(ii)registered for VAT in the name of a division under section 46(1) of the Act, or
(iii)associated with another person.
(2) In determining the value of a person’s taxable supplies F4... for the purposes of paragraph (1)(a)—
(a)any supply of goods or services that are capital assets of the business in the course or furtherance of which they are supplied, and
(b)any supply of services treated as made by the recipient by virtue of section 8 of the Act (reverse charge on supplies from abroad),
shall be disregarded.
(3) Notwithstanding the above, where a person has been—
(a)eligible to be registered for VAT in the name of a group under section 43A of the Act,
(b)registered for VAT in the name of a division under section 46(1) of the Act, or
(c)associated with another person,
in the period of 24 months before the date of his application, he shall not be eligible to be authorised, unless the Commissioners are satisfied that such authorisation poses no risk to the revenue.]
Textual Amendments
F1Pt. 7A inserted (25.4.2002) by The Value Added Tax (Amendment) (No. 2) Regulations 2002 (S.I. 2002/1142), regs. 1(2), 7
F2Word in reg. 55L(1)(a)(i) substituted (10.4.2003) by The Value Added Tax (Amendment) (No. 2) Regulations 2003 (S.I. 2003/1069), regs. 1(1), 7(1)(a)
F3Reg. 55L(1)(a)(ii) omitted (1.4.2009) by virtue of The Value Added Tax (Amendment) Regulations 2009 (S.I. 2009/586), regs. 1, 6(a)
F4Words in reg. 55L(2) omitted (1.4.2009) by virtue of The Value Added Tax (Amendment) Regulations 2009 (S.I. 2009/586), regs. 1, 6(b)
The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.