Statutory Instruments
2001 No. 677
VALUE ADDED TAX
The Value Added Tax (Amendment) (No. 2) Regulations 2001
Made
1st March 2001
Laid before the House of Commons
7th March 2001
Coming into force
1st April 2001
The Commissioners of Customs and Excise, in exercise of the powers conferred on them by section 25(1) of, and paragraph 2(1), (7) and (11) of Schedule 11 to, the Value Added Tax Act 1994( 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 (Amendment) (No. 2) Regulations 2001 and shall come into force on 1st April 2001.
2. The Value Added Tax Regulations 1995( 2 ) are amended as follows.
3. In part VII (annual accounting)—
(a) in regulation 52(1)(b), for “£300,000” substitute “£600,000”; and
(b) in regulations 53(2)(a) and 54(1)(e) and (2), for “£375,000” substitute “£750,000”.
4. In Part VIII (cash accounting)—
(a) in regulation 58(1)(a), for “£350,000” substitute “£600,000”; and
(b) in regulation 60(1), for “£437,500” substitute “£750,000”.
Martin Brown
Commissioner of Customs and Excise
New King’s Beam House
22 Upper Ground
London
SE1 9PJ
1st March 2001
1994 c. 23 ; section 96(1) defines “the Commissioners” as meaning the Commissioners of Customs and Excise and “regulations” as meaning regulations made by the Commissioners under the Act.
S.I. 1995/2518 ; relevant amending instruments are S.I. 1996/542 , which amended Part VII (annual accounting), and S.I. 1997/1614 , which amended Part VIII (cash accounting).