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Regulation 5 Adjustments in the course of business

Original text. Later amendments are not shown.

In regulation 38 (adjustments in the course of business)—

(a)

in paragraph (1) omit “Subject to paragraph (1A) below,”,

(b)

omit paragraph (1A),

(c)

omit paragraph (1B),

(d)

for paragraph (2) substitute “Where this regulation applies, both the taxable person who makes the supply and a taxable person who receives the supply shall adjust their respective VAT accounts in accordance with the provisions of this regulation.”, and

(e)

in paragraph (5) insert “relevant” before “taxable person”.