Amendment of Group 2 of Schedule 7A to the Value Added Tax Act 19944
After “NOTES” (and before the italic heading “Meaning of energy-saving materials”) insert—
Restriction on item 3
A1
1
Item 3 does not apply to a supply so far as relating to the energy-saving materials installed if the open market value of the supply of the materials exceeds 60% of the cost of the total supply to the person to whom it is made.
2
In this Note, the reference to cost is to cost net of VAT.