Article 12 Calculation of the payments on accountI1
United Kingdom
Subject to articles F212A, 13, 14 and 15 below, the amount of each payment on account to be made by a taxable person who falls within article 6 above shall equal F3one twenty-fourth of the total amount of tax, F4... which he was liable to pay in respect of the prescribed accounting periods the ends of which fell within the basic period.
The reference in paragraph (1) to the “total amount of tax” includes only tax that is required to be, or has been, accounted for on a return for a prescribed accounting period.
Annotations
Textual amendments
- F1
Art. 12 renumbered as art. 12(1) (31.12.2020) by The Value Added Tax (Miscellaneous Amendments, Northern Ireland Protocol and Savings and Transitional Provisions) (EU Exit) Regulations 2020 (S.I. 2020/1545), regs. 1, 25(5)(a) (with regs. 109-131); S.I. 2020/1641, reg. 2, Sch.
- F2
Word in art. 12 inserted (1.6.1996) by The Value Added Tax (Payments on Account) (Amendment) Order 1996 (S.I. 1996/1196), arts. 1, 8
- F3
Words in art. 12 substituted (1.6.1996) by The Value Added Tax (Payments on Account) (Amendment) Order 1996 (S.I. 1996/1196), arts. 1, 8
- F4
Words in art. 12 omitted (31.12.2020) by virtue of The Value Added Tax (Miscellaneous Amendments, Northern Ireland Protocol and Savings and Transitional Provisions) (EU Exit) Regulations 2020 (S.I. 2020/1545), regs. 1, 25(2) (with regs. 109-131); S.I. 2020/1641, reg. 2, Sch.
- F5
Art. 12(2) inserted (31.12.2020) by The Value Added Tax (Miscellaneous Amendments, Northern Ireland Protocol and Savings and Transitional Provisions) (EU Exit) Regulations 2020 (S.I. 2020/1545), regs. 1, 25(5)(b) (with regs. 109-131); S.I. 2020/1641, reg. 2, Sch.
Commencement
- I1
Art. 12 in force at 2.9.1993, see art. 1