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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Value Added Tax (Cash Accounting) (Amendment) (No. 2) Regulations 1990 No. 1943 URL: http://www.bailii.org/uk/legis/num_reg/1990/uksi_19901943_en.html |
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Statutory Instruments
VALUE ADDED TAX
Made
27th September 1990
Laid before the House of Commons
27th September 1990
Coming into force
1st October 1990
The Commissioners of Customs and Excise, in exercise of the powers conferred upon them by sections 14(1) and 48(1) of, and paragraph 2(3A) of Schedule 7 to, the Value Added Tax Act 1983(1) and of all other powers enabling them in that behalf, hereby make the following Regulations:
1. These Regulations may be cited as the Value Added Tax (Cash Accounting) (Amendment) (No. 2) Regulations 1990 and shall come into force on 1st October 1990.
2. In regulations 4(1)(a), 6(2)(a) and 6(2)(b) of the Value Added Tax (Cash Accounting) Regulations 1987(2), for "£250,000" there shall be substituted "£300,000".
Diana Seammen
Commissioner of Customs and Excise
New King's Beam House,
22 Upper Ground,
London SE1 9PJ
27th September 1990
(This note is not part of the Regulations)
These Regulations which come into force on 1st October 1990 amend the Value Added Tax (Cash Accounting) Regulations 1987 S.I. No. 1987/1427. Eligibility for membership of the cash accounting scheme is determined by the value of taxable supplies (excluding VAT) made in a year. The Regulations increase the limit from £250,000 to £300,000.
1983 c. 55; section 14(1) was amended by, and paragraph 2(3A) of Schedule 7 was inserted by, section 11 of the Finance Act 1987 (c. 16); section 48(1) defines "the Commissioners" as meaning the Commissioners of Customs and Excise and "regulations" as meaning regulations made by the Commissioners.
S.I. 1987/1427.
