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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations, which come into force on 1st April 2003, further amend the Value Added Tax Regulations 1995 (S.I. 1995/2518) ( “ the principal Regulations”).

Regulation 3 amends regulation 172I(3) of the principal Regulations so that the calculation required by that regulation results in the appropriate amount of input tax being reclaimed in circumstances where a person has paid part of the consideration for a supply before the end of the relevant period.

Regulation 4 revokes regulation 172I(5) of the principal Regulations.