Statutory Instrument 1993 No. 761

The Value Added Tax (Accounting and Records) (Amendment) Regulations 1993

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1993 No. 761

VALUE ADDED TAX

The Value Added Tax (Accounting and Records) (Amendment) Regulations 1993

The Commissioners of Customs and Excise, in exercise of the powers conferred on them by paragraph 2(4) of Schedule 7 to the Value Added Tax Act 1983^[1] and of all other powers enabling them in that behalf, hereby make the following Regulations:

    1.    These Regulations may be cited as the Value Added Tax (Accounting and Records) (Amendment) Regulations 1993 and shall come into force on 17th March 1993.

    2.    In regulation 5(3) of the Value Added Tax (Accounting and Records) Regulations 1989^[2], for "£1000" there shall be substituted "£2000".

Leonard Harris

Commissioner of Customs and Excise
New King's Beam House, 22 Upper Ground, LONDON SE1 9PJ

16th March 1993

These Regulations, which come into force on 17th March 1993, amend regulation 5(3) of the Value Added Tax (Accounting and Records) Regulations 1989 by increasing from £1000 to £2000 the maximum amount of the difference between under declarations and overdeclarations of liability for the purpose of the correction of a person's value added tax account.

[1] 1983 c. 55; section 48(1) defines "the Commissioners" as meaning the Commissioners of Customs and Excise and "regulations" as meaning regulations made by the Commissioners; paragraph 2(4) of Schedule 7 was amended by section 25 of the Finance Act 1989 (c. 26). back

[2] S.I. 1989/2248, to which there are amendments not relevant to these Regulations. back