The Value Added Tax (Accounting and Records) (Amendment) Regulations 1993

Made: 16th March 1993

Laid before the House of Commons: 16th March 1993

Coming into force: 17th March 1993

The Commissioners of Customs and Excise, in exercise of the powers conferred on them by paragraph 2(4) of Schedule 7 to the Value Added Tax Act 1983[^f00001] 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 (Accounting and Records) (Amendment) Regulations 1993 and shall come into force on 17th March 1993.

2

In regulation 5(3) of the Value Added Tax (Accounting and Records) Regulations 1989[^f00002], for “£1000” there shall be substituted “£2000”.

Signed

Leonard Harris — Commissioner of Customs and Excise — 16th March 1993

Explanatory note

(This note is not part of the Regulations)

These Regulations, which come into force on 17th March 1993, amend regulation 5(3) of the Value Added Tax (Accounting and Records) Regulations 1989 by increasing from £1000 to £2000 the maximum amount of the difference between under declarations and overdeclarations of liability for the purpose of the correction of a person’s value added tax account.

Footnotes

[^f00001]: 1983 c. 55; section 48(1) defines “the Commissioners” as meaning the Commissioners of Customs and Excise and “regulations” as meaning regulations made by the Commissioners; paragraph 2(4) of Schedule 7 was amended by section 25 of the Finance Act 1989 (c. 26).

[^f00002]: S.I. 1989/2248, to which there are amendments not relevant to these Regulations.