Explanatory note

This Order, which comes into force on 3rd July 1997, amends the Value Added Tax (Special Provisions) Order 1995 (the “principal Order”).

Article 1 deals with commencement.

Article 3 amends article 12(3)(a) of the principal Order to exclude from eligibility for the margin scheme, goods obtained through the transfer of a business or part of a business as a going concern, unless those goods were previously eligible for margin scheme treatment by a transferor otherwise than by his having obtained them as part of a transfer of a going concern.