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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Value Added Tax (Increase of Registration Limits) Order 1996 No. 2950 URL: http://www.bailii.org/uk/legis/num_reg/1996/uksi_19962950_en.html |
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Statutory Instruments
VALUE ADDED TAX
Made
26th November 1996
Laid before the House of Commons
26th November 1996
Coming into force
articles 1 and 2
27th November 1996
article 3
1st January 1997
The Treasury, in exercise of the powers conferred on them by paragraph 15 of Schedule 1 and paragraph 9 of Schedule 3 to the Value Added Tax Act 1994(1) hereby make the following Order:
1. This Order may be cited as the Value Added Tax (Increase of Registration Limits) Order 1996 and shall come into force on the following dates:
| articles 1 and 2 | 27th November 1996 |
| article 3 | 1st January 1997. |
2. Schedule 1 to the Value Added Tax Act 1994 shall be amended as follows:
(a)in paragraphs 1(1)(a), 1(1)(b), 1(2)(a) and 1(2)(b) for "£47,000"there shall be substituted "£48,000", and
(b)in paragraphs 1(3), 4(1) and 4(2) for "£45,000"there shall be substituted "£46,000".
3. Schedule 3 to the Value Added Tax Act 1994 shall be amended in paragraphs 1(1), 1(2), 2(1)(a), 2(1)(b) and 2(2) by substituting "£48,000"for "£47,000".
Bowen Wells
Michael Bates
Two of the Lords Commissioners of Her Majesty's Treasury
26th November 1996
(This note is not part of the Regulations)
This Order increases the VAT registration limits for taxable supplies and acquisitions from other member States from £47,000 to £48,000, with effect from 27th November 1996, in the case of taxable supplies and 1st January 1997, in the case of acquisitions.
The Order also increases the limit for cancellation of registration in the case of taxable supplies from £45,000 to £46,000 with effect from 27th November 1996, and in the case of acquisitions from £47,000 to £48,000 with effect from 1st January 1997.
1994 c. 23; Schedules 1 and 3 were varied by S.I. 1995/3037.
