Paragraph 12 Value Added Tax Act 1994

(1)

The Value Added Tax Act 1994^f1 is amended as follows.

(2)

In section 73 (failure to make returns etc.), in each of subsections (5) and (10), for “interim or permanent trustee” substitute “trustee in sequestration”.

(3)

In section 75(4) (assessments in cases of acquisitions of certain goods by non-taxable persons), for “interim or permanent trustee” substitute “trustee in sequestration”.

(4)

In section 76(10) (assessment of amounts due by way of penalty, interest or surcharge), for “interim or permanent trustee” substitute “trustee in sequestration”.

(5)

In section 78A(8)^f2 (assessment for interest overpayments), for “interim or permanent trustee” substitute “trustee in sequestration”.

(6)

In section 81(5)(c) (interest given by way of credit and set-off of credits), for “1985” substitute “2016”.

(7)

In section 96(1) (interpretation)—

(a)

omit the definitions of “interim trustee” and “permanent trustee”; and

(b)

after the definition of “tribunal”, insert—

““trustee in sequestration” means a trustee (or interim trustee) in a sequestration under the Bankruptcy (Scotland) Act 2016”.

(8)

In paragraph 2(5)(b) of Schedule 11 (administration, collection and enforcement), for “interim or permanent trustee” substitute “trustee in sequestration”.

Annotations

Footnotes

f1: 1994 c.23.
f2: Section 78A was inserted by the Finance Act 1997 (c.16), section 45(1).