Adjustments in the course of business5

In regulation 38 (adjustments in the course of business)—

a

in paragraph (1) omit “Subject to paragraph (1A) below,”,

b

omit paragraph (1A),

c

omit paragraph (1B),

d

for paragraph (2) substitute “Where this regulation applies, both the taxable person who makes the supply and a taxable person who receives the supply shall adjust their respective VAT accounts in accordance with the provisions of this regulation.”, and

e

in paragraph (5) insert “relevant” before “taxable person”.