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Goods and services. Who must register for VAT? Persons supplying taxable goods or services in the course or furtherance of business must register and account for VAT if their turnover is in excess of certain limits. Certain goods and services are exempt from VAT. In general, persons supplying such goods and services e.g. schools, universities and hospitals, are treated as being exempt for VAT purposes. This means that these persons must pay VAT on their purchases but they have no obligation, or entitlement, to register and account for VAT. VAT-registered persons, whom we refer to as traders, are liable for VAT on all sales of taxable goods made or taxable services supplied by them within the State. In the case of transactions with other traders, invoices showing the tax separately, must be issued.
Borne on their purchases against the tax payable on their sales. This credit is allowed to a trader in respect of all purchases for the business with a few exceptions - mainly motorcars, petrol, meals, entertainment expenses and goods or services used for purposes for which the trader in question is not taxable. The normal taxable period for VAT is two calendar months i.e. January/February, March/April and so on. A VAT return for each taxable period is due on the 19th day of the month following. payment, as appropriate, must accompany the return. Imported goods from outside the EU are liable to VAT at the rate applying to the sale of the same goods within the State. As a general rule VAT is payable at the point of importation. However, approved importers may participate in a deferred payment scheme in which case the tax is payable on the 15th day of the month following the month of importation.
Are you registered for VAT? Do you currently account for VAT on admission charges to your museum, gallery, art exhibition, zoo, or to theatrical or choreographic performances of a cultural nature? If the answer to both of these questions is YES, then you need to review your VAT position urgently if you have not already done so. Value Added Tax VAT is a tax businesses charge when they supply their goods and services in the United Kingdom or Isle of Man. It is also charged on goods, and some services, that are imported from places outside the European Community EC and on goods and services coming into the UK from another EC Member State. The following are examples of business supplies: selling new and used goods, including hire purchase; providing a service, for example, hairdressing and decorating; charging an admission price to go into buildings; or self-employed people providing supplies, e.g some salesmen and subcontractors.
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Value Added Tax Act 1994



Rate of VAT

Zero-rating.

Application to the Crown.

General provisions relating to the administration and collection of VAT.

Appeal tribunals.

Supplies spanning change of rate etc.

Registration in respect of taxable supplies.

Registration in respect of supplies from other member States.

Registration in respect of acquisitions from other member States.

Matters to be treated as supply of goods or services.

Services supplied where received.

Valuation: special cases.

Valuation of acquisitions from other member states: special cases.

Zero-rating.

Exemptions.

Buildings and land.

Administration, collection and enforcement.

Constitution and procedure of tribunals.

Transitional provisions and savings.

Consequential amendments.

Repeals.




Royal Arms Value Added Tax Act 1994

1994 c. 23
 

© Crown Copyright 1994

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  Value Added Tax Act 1994
 

1994 Chapter c. 23
 


ARRANGEMENT OF SECTIONS

Part I
The charge to tax
Imposition and rate of VAT
1.  Value added tax.
2.  Rate of VAT.
3.  Taxable persons and registration.
 
Supply of goods or services in the United Kingdom
4.  Scope of VAT on taxable supplies.
5.  Meaning of supply: alteration by Treasury order.
6.  Time of supply.
7.  Place of supply.
8.  Reverse charge on supplies received from abroad.
9.  Place where supplier or recipient of services belongs.
 
Acquisition of goods from member States
10.  Scope of VAT on acquisitions from member States.
11.  Meaning of acquisition of goods from another member State.
12.  Time of acquisition.
13.  Place of acquisition.
14.  Acquisitions from persons belonging in other member States.
 
Importation of goods from outside the member States
15.  General provisions relating to imported goods.
16.  Application of customs enactments.
17.  Free zone regulations.
 
Goods subject to a warehousing regime
18.  Place and time of acquisition or supply.
 
Determination of value
19.  Value of supply of goods or services.
20.  Valuation of acquisitions from other member States.
21.  Value of imported goods.
22.  Value of certain goods.
23.  Gaming machines.
 
Payment of VAT by taxable persons
24.  Input tax and output tax.
25.  Payment by reference to accounting periods and credit for input tax against output tax.
26.  Input tax allowable under section 25.
27.  Goods imported for private purposes.
28.  Payments on account of VAT.
29.  Invoices provided by recipients of goods or services.
 
Part II
Reliefs, exemptions and repayments
Reliefs etc. generally available
30.  Zero-rating.
31.  Exempt supplies and acquisitions.
32.  Relief on supply of certain second-hand goods.
33.  Refunds of VAT in certain cases.
34.  Capital goods.
35.  Refund of VAT to persons constructing certain buildings.
36.  Bad debts.
 
Imports, overseas businesses etc
37.  Relief from VAT on importation of goods.
38.  Importation of goods by taxable persons.
39.  Repayment of VAT to those in business overseas.
40.  Refunds in relation to new means of transport supplied to other member States.
 
Part III
Application of Act in particular cases
41.  Application to the Crown.
42.  Local authorities.
43.  Groups of companies.
44.  Supplies to groups.
45.  Partnerships.
46.  Business carried on in divisions or by unincorporated bodies, personal representatives etc.
47.  Agents etc.
48.  VAT representatives.
49.  Transfers of going concerns.
50.  Terminal markets.
51.  Buildings and land.
52.  Trading stamp schemes.
53.  Tour operators.
54.  Farmers etc.
55.  Customers to account for tax on supplies of gold etc.
56.  Fuel for private use.
57.  Determination of consideration for fuel supplied for private use.
 
Part IV
Administration, collection and enforcement
General administrative provisions
58.  General provisions relating to the administration and collection of VAT.
 
Default surcharges and other penalties and criminal offences
59.  The default surcharge.
60.  VAT evasion: conduct involving dishonesty.
61.  VAT evasion: liability of directors etc.
62.  Incorrect certificates as to zero-rating etc.
63.  Penalty for misdeclaration or neglect resulting in VAT loss for one accounting period equalling or exceeding certain amounts.
64.  Repeated misdeclarations.
65.  Inaccuracies in EC sales statements.
66.  Failure to submit EC sales statement.
67.  Failure to notify and unauthorised issue of invoices.
68.  Breaches of walking possession agreements.
69.  Breaches of regulatory provisions.
70.  Mitigation of penalties under sections 60, 63, 64 and 67.
71.  Construction of sections 59 to 70.
72.  Offences.
 
Assessments of VAT and other payments due
73.  Failure to make returns etc.
74.  Interest on VAT recovered or recoverable by assessment.
75.  Assessments in cases of acquisitions of certain goods by non-taxable persons.
76.  Assessment of amounts due by way of penalty, interest or surcharge.
77.  Assessments: time limits and supplementary assessments.
 
Interest, repayment supplements etc. payable by Commissioners
78.  Interest in certain cases of official error.
79.  Repayment supplement in respect of certain delayed payments or refunds.
80.  Recovery of overpaid VAT.
81.  Interest given by way of credit and set-off of credits.
 
Part V
Appeals
82.  Appeal tribunals.
83.  Appeals.
84.  Further provisions relating to appeals.
85.  Settling appeals by agreement.
86.  Appeals to Court of Appeal.
87.  Enforcement of registered or recorded tribunal decisions etc.
 
Part VI
Supplementary provisions
Change in rate of VAT etc. and disclosure of information
88.  Supplies spanning change of rate etc.
89.  Adjustments of contracts on changes in VAT.
90.  Failure of resolution under Provisional Collection of Taxes Act 1968.
91.  Disclosure of information for statistical purposes.
 
Interpretative provisions
92.  Taxation under the laws of other member States etc.
93.  Territories included in references to other member States etc.
94.  Meaning of "business" etc.
95.  Meaning of "new means of transport".
96.  Other interpretative provisions.
 
Supplementary provisions
97.  Orders, rules and regulations.
98.  Service of notices.
99.  Refund of VAT to Government of Northern Ireland.
100.  Savings and transitional provisions, consequential amendments and repeals.
101.  Commencement and extent.
102.  Short title.
  Schedule 1   Registration in respect of taxable supplies.
  Schedule 2   Registration in respect of supplies from other member States.
  Schedule 3   Registration in respect of acquisitions from other member States.
  Schedule 4   Matters to be treated as supply of goods or services.
  Schedule 5   Services supplied where received.
  Schedule 6   Valuation: special cases.
  Schedule 7   Valuation of acquisitions from other member states: special cases.
  Schedule 8   Zero-rating.
  Part I   Index to zero-rated supplies of goods and services.
  Part II   The Groups.
  Schedule 9   Exemptions.
  Part I   Index to exempt supplies of goods and services.
  Part II   The Groups.
  Schedule 10   Buildings and land.
  Schedule 11   Administration, collection and enforcement.
  Schedule 12   Constitution and procedure of tribunals.
  Schedule 13   Transitional provisions and savings.
  Schedule 14   Consequential amendments.
  Schedule 15   Repeals.




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© Crown copyright 1994
Prepared 20th September 2000
Publishing Rights: Coddan CPM Core Licence (HMSO) number is C02W0007897 issued on 25 November 2005 by HMSO Licensing Division (Core Licence.pdf Licence to reproduce public sector information).
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