OpenLegislation

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 1993 amend the Value Added Tax (Cash Accounting) Regulations 1987 by—

(a)

increasing from £300,000 to £350,000 the value of taxable supplies in a year for the purposes of admission to, and remaining in, the cash accounting scheme; and

(b)

dispensing with the need for formal authorisation by the Commissioners of Customs and Excise for admission to the scheme.