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The Value Added Tax (Supplies by Retailers) (Amendment) Regulations 1987

S.I. 1987/1712 · Made 28 September 1987

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 28th September 1987

Laid before the House of Commons 7th October 1987

Coming into force 30th October 1987

The Commissioners of Customs and Excise, by virtue of the powers conferred upon them by paragraph 2(3) of Schedule 7 to the Value Added Tax Act 1983f1 and of all other powers enabling them in that behalf, hereby make the following Regulations:

Annotations to the whole text

Footnotes

f1

1983 c. 55.

Contents

  1. 1Regulation 1
  2. 2Regulation 2
  3. Signature
  4. Explanatory note

1

(1)

These Regulations may be cited as the Value Added Tax (Supplies by Retailers) (Amendment) Regulations 1987 and shall come into force on 30th October 1987.

(2)

In these Regulations the “principal regulations” means the Value Added Tax (Supplies by Retailers) Regulations 1972f1.

2

For regulation 3 of the principal regulations there shall be substituted the following:

“3

The Commissioners may refuse to permit the value of taxable supplies to be determined in accordance with a scheme if it appears to them—

(a)

that the use of any particular scheme does not produce a fair and reasonable valuation during any period; or

(b)

that it is necessary to do so for the protection of the revenue; or (c) that the retailer could reasonably be expected to account for tax in accordance with Regulations made under paragraph 2(1) of Schedule 7 to the Value Added Tax Act 1983.”.

Signature

Colin C Finlinson

Commissioner of Customs and Excise

King’s Beam House Mark Lane London EC3R 7HE

28th September 1987

Explanatory note

(This note is not part of the Regulations)

These Regulations make minor amendments to regulation 3 of the Value Added Tax (Supplies by Retailers) Regulations 1972 and clarify the Commissioners' powers to refuse the use of a retail scheme method for determining the value of taxable supplies.