Explanatory Note
(This note is not part of the Regulations)
These Regulations are the second appointed day Regulations made under section 95 of the Finance Act 2021 (c. 26) (“FA 2021”).
The Finance Act 2021, Section 95 and Schedule 18 (Distance Selling: Northern Ireland) (Appointed Day No. 1 and Transitory Provision) Regulations 2021 (S.I. 2021/770) brought into force on 1st July 2021 the bulk of the provisions of section 95(1) of and Schedule 18 to FA 2021, subject to certain exceptions and restrictions.
Regulation 3 brings into force on 1st March 2024 all the provisions of section 95(1) of and Schedule 18 to FA 2021 that are not already in force subject to the exceptions in regulation 4. These provisions concern Value Added Tax and distance selling transactions.
Regulation 4 sets out the provisions in section 95(1) of and Schedule 18 to FA 2021 that are not being brought into force by these Regulations.
A Tax Information and Impact Note has not been prepared for these Regulations as they give effect to previously announced policy and are appointed day Regulations.