(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 1972.
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; orb 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.”
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