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Paragraph 42D F1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

This paragraph applies if—

(a)

an amount is determined to be payable by way of levy on a deemed supply of a quantity of a commodity under paragraph 24A or 24B, but

(b)

it is later determined that that amount is too low.

(2)

For the purposes of this Schedule—

(a)

the person who made the deemed supply is deemed to make a further taxable supply to himself of the quantity of the commodity, and

(b)

the amount payable by way of levy on that further deemed supply is—

(i)

the total amount payable on the first deemed supply on the basis of the later determination mentioned in sub-paragraph (1)(b), less

(ii)

the amount previously determined to be payable on the first deemed supply.

Annotations

Textual amendments

F1

Sch. 6 paras. 42A-42D inserted (retrospective to 26.3.2013) by Finance Act 2013 (c. 29), Sch. 42 paras. 14, 21

Notes on Schedule 6

Modifications

C1

Sch. 6 modified (coming into force in accordance with art. 1 of the amending S.I.) by The Climate Change Levy (Suspension of Recycling Exemption) Order 2011 (S.I. 2011/1023), arts. 1, 2, 3

C2

Sch. 6 modified (retrospective to 26.3.2013) by Finance Act 2013 (c. 29), Sch. 42 para. 1(1)

Notes on Part IV

Modifications

C1

Sch. 6 modified (coming into force in accordance with art. 1 of the amending S.I.) by The Climate Change Levy (Suspension of Recycling Exemption) Order 2011 (S.I. 2011/1023), arts. 1, 2, 3