2011 No. 254
The Value Added Tax (Amendment) Regulations 2011
Made
Laid before the House of Commons
Coming into force
Citation, commencement and effect1
1
These Regulations may be cited as the Value Added Tax (Amendment) Regulations 2011 and come into force on 2nd March 2011.
2
Regulations 3 to 5 have effect in relation to supplies treated as made under paragraph 37 of Schedule 10 to the Value Added Tax Act 19943 where the building that is supplied was completed on or after 1st March 2011.
Amendment of the Value Added Tax Regulations 19952
The Value Added Tax Regulations 19954 are amended as follows.
Adjustments to the deduction of input tax on capital items
3
In regulation 112(3) (interpretation of Part XV)—
a
for “paragraph 37(3)” substitute “paragraph 37(1)”;
b
for “paragraph 37(5)” substitute “paragraph 37(3)”;
c
for “3” substitute “36”.
4
In regulation 114(3B) (period of adjustment)—
a
for “paragraph 37(5)” substitute “paragraph 37(3)”;
b
at the end insert “divided by 12 and rounded up to the next whole number”.
5
In regulation 115(5) (method of adjustment), for “paragraph 37(3)” substitute “paragraph 37(1)”.
(This note is not part of the Regulations)