The Value Added Tax (Removal of Goods) (Accounting) Regulations 1992

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These Regulations may be cited as the Value Added Tax (Removal of Goods) (Accounting) Regulations 1992 and shall come into force on 1st January 1993.

In these Regulations—• “the owner” has the same meaning as in article 2 of the Removal Order;• “the Removal Order” means the Value Added Tax (Removal of Goods) Order 1992;• “value added tax account” means an account such as is referred to in regulation 4 of the Value Added Tax (Accounting and Records) Regulations 1989.

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(1)This regulation applies where goods have been removed from a member State to a place in any other member State, and that removal falls within any of paragraphs (d), (f) or (g) of article 4 of the Removal Order.

(2)Except where paragraph (3) below applies in respect of the same prescribed accounting period, the owner shall not make any entry in the tax payable portion of that part of his value added tax account which relates to the prescribed accounting period in which he would be liable to account for any tax chargeable in respect of the removal.

(3)Where—

(a)the condition described in article 5 of the Removal Order has not been complied with; and

(b)an amount of tax has become payable,

the owner shall make a positive entry for the relevant amount of tax in the tax payable portion of that part of his value added tax account which relates to the prescribed accounting period in which the condition was not complied with.

Contains public sector information licensed under the Open Government Licence v3.0.

The Value Added Tax (Removal of Goods) (Accounting) Regulations 1992

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Key facts

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History · 1 version

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Defined terms · 3

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