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The Value Added Tax (Increase of Registration Limits) Order 2012

S.I. 2012/883 · Made 20 March 2012

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Value Added Tax

Made 20th March 2012

Laid before the House of Commons 21st March 2012

Coming into force 1st April 2012

The Treasury, in exercise of the powers conferred by paragraph 15 of Schedule 1, and paragraph 9 of Schedule 3, to the Value Added Tax Act 1994f1, makes the following Order:

Annotations to the whole text

Footnotes

f1

1994 c.23.

Contents

  1. 1Citation and Commencement
  2. 2Amendment of the Value Added Tax Act 1994
  3. 3Amendment of the Value Added Tax Act 1994
  4. 4Amendment of the Value Added Tax Act 1994
  5. Signature
  6. Explanatory note

1Citation and Commencement

This Order may be cited as the Value Added Tax (Increase of Registration Limits) Order 2012 and comes into force on 1st April 2012.

2Amendment of the Value Added Tax Act 1994

The Value Added Tax Act 1994 is amended in accordance with articles 3 and 4.

3Amendment of the Value Added Tax Act 1994

In Schedule 1 (registration in respect of taxable supplies)—

(a)

in paragraph 1(1)(a) and (b) and (2)(a) and (b), for “£73,000” substitute “£77,000”; and

(b)

in paragraphs 1(3) and 4(1) and (2), for “£71,000” substitute “£75,000”f1.

4Amendment of the Value Added Tax Act 1994

In Schedule 3 (registration in respect of acquisitions from other member States) in paragraphs 1(1) and (2) and 2(1)(a) and (b) and (2), for “£73,000” substitute “£77,000”f1.

Signature

Angela Watkinson

Michael Fabricant

Two of the Lords Commissioners of Her Majesty’s Treasury

20th March 2012

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 £73,000 to £77,000, with effect from 1st April 2012.

This Order also increases the limit for cancellation of registration in the case of taxable supplies from £71,000 to £75,000, and in the case of acquisitions from other member States from £73,000 to £77,000, with effect from 1st April 2012.

A Tax Information and Impact Note has not been prepared for this Instrument as it contains no substantive changes to tax policy.