The Value Added Tax (Increase of Registration Limits) Order 2003

Statutory Instruments

2003 No. 1058

VALUE ADDED TAX

The Value Added Tax (Increase of Registration Limits) Order 2003

Made

9th April 2003

Laid before the House of Commons

9th April 2003

Coming into force

10th April 2003

The Treasury, in exercise of the powers conferred upon them by paragraph 15 of Schedule 1 and paragraph 9 of Schedule 3 to the Value Added Tax Act 1994 (1) and of all other powers enabling them in that behalf, hereby make the following Order:

1.  This Order may be cited as the Value Added Tax (Increase of Registration Limits) Order 2003 and comes into force on 10th April 2003.

2.  In Schedule 1 to the Value Added Tax Act 1994 (registration in respect of taxable supplies)–

(a) in paragraph 1(1)(a), (1)(b), (2)(a) and (2)(b), for “£55,000” substitute “£56,000”; and

(b) in paragraphs 1(3) and 4(1) and (2), for “£53,000” substitute “£54,000”.

3.  In Schedule 3 to the Value Added Tax Act 1994 (registration in respect of acquisitions from other member States)–

(a) in paragraph 1(1) and (2); and

(b) in paragraph 2(1)(a), (1)(b) and (2),

for “£55,000” substitute “£56,000”.

Jim Fitzpatrick

John Heppell

Two of the Lords Commissioners of Her Majesty’s Treasury

9th April 2003

Explanatory Note

(This note is not part of the Order)

This Order increases the VAT registration limits for taxable supplies and for acquisitions from other member States from £55,000 to £56,000, with effect from 10th April 2003.

This Order also increases the limit for cancellation of registration in the case of taxable supplies from £53,000 to £54,000, and in the case of acquisitions from other member States from £55,000 to £56,000, with effect from 10th April 2003.

(1)

1994 c. 23; Schedules 1 and 3 were last varied by S.I. 2002/1098.