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Regulation 3 Incentive for making a VAT return by way of an electronic return system

Original text. Later amendments are not shown.

(1)

The Commissioners shall give an incentive in the form of a payment of £50 to any taxable person who—

(a)

makes a return by way of an electronic return system on or after 1st April 2001;

(b)

has not previously made such a return on or after that date; and

(c)

satisfies the conditions specified in any direction given by the Commissioners under paragraph (2) below.

Such a payment shall be called an “incentive payment”.

(2)

The Commissioners may give a direction specifying any or all of the following conditions—

(a)

that the relevant return is made in compliance with any time limits specified by or under the VAT Regulations;

(b)

that the relevant return is made for a prescribed accounting period that is specified in the direction;

(c)

that the amount of value added tax that is payable in respect of the period to which the relevant return relates is paid—

(i)

by a means of electronic payment that is specified in the direction; and

(ii)

in compliance with any time limits specified by or under the VAT Regulations;

(d)

that the value of supplies made by the taxable person in the period of 12 months ending on the last day of the prescribed accounting period to which the relevant return relates does not exceed such sum as may be specified.