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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order, which comes into force on 1st June 2007, amends the Value Added Tax (Payments on Account) Order 1993 (“the Principal Order”).

The Order inserts a new article 2A into the Principal Order. This provides for a taxable person to apply to the Commissioners for Revenue and Customs to have any VAT which he is liable to account for and pay by virtue of the application of section 55A(6) of the Value Added Tax Act 1994 to be disregarded if, solely by reason of any such VAT, he would fall within the Payments on Account Scheme or, if already within the scheme, his payments on account would be increased.

A full regulatory impact assessment of the effect that section 55A and this instrument will have on the costs of business and the voluntary sector is available at www.hmrc.gsi.gov.uk and is annexed to the Explanatory Memorandum which is available alongside the instrument on the OPSI website.