The Value Added Tax (Increase of Registration Limits) Order 2008
S.I. 2008/707 · Made 12 March 2008
Value Added Tax
Made 12th March 2008
Laid before the House of Commons 13th March 2008
Coming into force 1st April 2008
The Treasury make the following Order in exercise of the powers conferred by paragraph 15 of Schedule 1 and paragraph 9 of Schedule 3 of the Value Added Tax Act 1994f1.
Annotations to the whole text
Footnotes
- f1
-
1994 c.23; the amounts in Schedules 1 and 3 were last varied by S.I. 2007/941.
Contents
1Citation and commencement
This Order may be cited as the Value Added Tax (Increase of Registration Limits) Order 2008 and comes into force on 1st April 2008.
2Amendment of Value Added Tax Act 1994
The Value Added Tax Act 1994 is amended as follows.
In Schedule 1 (registration in respect of taxable supplies)—
in paragraph 1(1)(a) and (b) and (2)(a) and (b), for “£64,000” substitute “£67,000”; and
in paragraphs 1(3) and 4(1) and (2), for “£62,000” substitute “£65,000”.
In Schedule 3 (registration in respect of acquisitions from other member States)—
in paragraph 1(1) and (2), and
in paragraph 2(1)(a) and (b) and (2),
for “£64,000” substitute “£67,000”.
Signature
Dave Watts
Alan Campbell
Two of the Lords Commissioners of Her Majesty’s Treasury
12th March 2008
Explanatory note
(This note is not part of the Order)
This Order increases the VAT registration limits for taxable supplies and for acquisitions from other member States from £64,000 to £67,000, with effect from 1st April 2008.
This Order also increases the limit for cancellation of registration in the case of taxable supplies from £62,000 to £65,000, and in the case of acquisitions from other member States from £64,000 to £67,000, with effect from 1st April 2008.
A full impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.