Section 38 VAT invoices and accounting.

Paragraph 2 of Schedule 11 to the M1Value Added Tax Act 1994 (regulations about accounting for VAT, VAT invoices etc.) shall be amended as follows.

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

In sub-paragraph (10) (adjustments of VAT accounts), at the end of paragraph (c) there shall be inserted

and

(d)

for a person, for purposes connected with the making of any such entry or financial adjustment, to be required to provide to any prescribed person, or to retain, a document in the prescribed form containing prescribed particulars of the matters to which the entry or adjustment relates; and

(e)

for enabling the Commissioners, in such cases as they may think fit, to dispense with or relax a requirement imposed by regulations made by virtue of paragraph (d) above.