Regulation 4 Removals of investment gold: person to account is the person who would have accounted for VAT on the supplyI1I2
United Kingdom
Paragraph (2) applies where—
a taxable person makes a supply of gold of a description which but for Note 4(b) to Group 15 of Schedule 9 M1 to VATA (investment gold) would have fallen within that Group; and
the supply involves the removal of the gold from Great Britain to Northern Ireland, or vice versa.
Where this paragraph applies, the person who is treated as having imported the gold for the purpose of paragraph 4 of Schedule 9ZB to VATA is the person (and only that person) who would be required to account for VAT on the supply of the gold if the supply were a taxable but not a zero-rated supply.
This regulation is subject to F1regulations 6 and 6A (special customs procedures).
Annotations
Textual amendments
- F1
Words in reg. 4(3) substituted (1.8.2021) by The Value Added Tax (Amendment) (EU Exit) Regulations 2021 (S.I. 2021/715), regs. 1, 60
Marginal citations
- M1
Group 15 was inserted into VATA by S.I. 1999/3116. Articles 5-7 of S.I. 1973/173 prescribe who is obliged to account for VAT on such a supply.
Commencement
- I1
Reg. 4 not in force at made date, see reg. 1
- I2
Reg. 4 in force at 31.12.2020 by S.I. 2020/1641, reg. 2, Sch.