The Value Added Tax (Increase of Registration Limits) Order 1988

Made: 15th March 1988

Laid before the House of Commons: 15th March 1988

Coming into force:

The Treasury, in exercise of the powers conferred on them by paragraph 12 of Schedule 1 to the Value Added Tax Act 1983[^f00001], hereby make the following Order:

1

This Order may be cited as the Value Added Tax (Increase of Registration Limits) Order 1988 and shall come into force on the following dates:

2

Schedule 1([^f00002]) to the Value Added Tax Act 1983 (provisions as to liability to be registered) shall be amended as follows:

• (a) in paragraph 1(1)(a)(i) for the figure “£7,250” there shall be substituted “£7,500”,

• (b) in paragraphs 1(1)(a)(ii), 1(1)(b) and 1(2) for the figure “£21,300” there shall be substituted “£22,100”,

• (c) in paragraphs 1(3), 2(1) and 2(2) for the figure “£20,300” there shall be substituted “£21,100”.

Signed

Tony Durant — David Lightbown — Two of the Lords Commissioners of Her Majesty’s Treasury — 15th March 1988

Explanatory note

(This note is not part of the Order)

This Order increases the VAT registration limit from £21,300 to £22,100 per annum and the single quarterly limit from £7,250 to £7,500 with effect from 16th March 1988.

The Order also increases the limit for cancellation of registration from £20,300 to £21,100 with effect from 1st June 1988.

The later date of implementation of the change in the cancellation limits is to allow time for potential applicants for deregistration to consider their position and to make application to their local VAT office.

Footnotes

[^f00001]: 1983 c. 55; Schedule 1 was amended by the Finance Act 1984 (c. 43), section 12; the Finance Act 1986 (c. 41), section 10 and the Finance Act 1987 (c. 16), sections 13 and 14.

[^f00002]: Schedule 1 was varied by S.I. 1984/342, 1985/433, 1986/531, 1987/438.