Source: http://www.legislation.gov.uk/ukpga/2009/10/schedule/3/paragraph/2
Timestamp: 2013-05-19 20:00:42
Document Index: 48450686

Matched Legal Cases: ['art. 2', 'art. 3', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2']

Supply spanning the date of the VAT changeSection 2Table of ContentsContentExplanatory NotesMore ResourcesPrevious: ParagraphNext: ParagraphPlain ViewPrint Options
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If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.Commencement Orders bringing provisions within this Act into force:S.I. 2010/466 art. 3 commences (2009 c. 10)S.I. 2010/670 art. 2 commences (2009 c. 10)S.I. 2010/815 art. 2 commences (2009 c. 10)S.I. 2010/867 art. 2 commences (2009 c. 10)S.I. 2010/1878 art. 2 commences (2009 c. 10)S.I. 2011/701 art. 3 commences (2009 c. 10)S.I. 2011/702 art. 2 3 commences (2009 c. 10)S.I. 2011/2391 art. 2(b)(c) commences (2009 c. 10)S.I. 2011/2401 art. 2(1) commences (2009 c. 10)Commencement Orders bringing legislation that affects this Act into force:S.I. 2011/132 art. 2 3 commences (2010 c. 33)S.I. 2011/703 art. 2 3 commences (2010 c. 33)S.I. 2011/975 art. 2 commences (2010 c. 13)S.I. 2011/2391 art. 2(a) commences (2010 c. 33)S.I. 2011/2401 art. 2(2) amendment to earlier commencing SI 2011/701This section has no associated Explanatory Notes2(1)For the purposes of this Schedule a supply of goods or services spans the date of the VAT change where—E+W+S+N.I.(a)by virtue of the issue of a VAT invoice or the receipt of a payment by the person making the supply (“the supplier”), the supply is treated as taking place before the date of the VAT change, but(b)the basic time of supply (see paragraph 4) is on or after the date of the VAT change.(2)The relevant conditions are—(a)in relation to a supply that is within sub-paragraph (1)(a) by virtue of the issue of a VAT invoice, conditions A to D, and(b)in relation to a supply that is within sub-paragraph (1)(a) by virtue of the receipt of a payment, conditions A to C.(3)Condition A is that the supplier and the person to whom the supply is made are connected with each other at any time in the period—(a)beginning with the day on which the supply is treated as taking place, and(b)ending on the date of the VAT change.(4)Paragraph 5 modifies condition A in cases involving a series of supplies.(5)Condition B is that the aggregate of the following is more than £100,000—(a)the relevant consideration for the supply, and(b)the relevant consideration for every related supply of goods or services (including every related grant of a right to goods or services) that spans the date of the VAT change (see paragraph 6).(6)Condition C is that a prepayment in respect of the supply is financed by the supplier or a person connected with the supplier (see paragraph 7).(7)In sub-paragraph (6) “prepayment”, in respect of a supply, means a payment that is received by the supplier before the basic time of supply.(8)Condition D is that full payment of the amount shown on the VAT invoice referred to in sub-paragraph (1)(a) is not due before the end of the period of 6 months beginning with the date on which the invoice is issued.(9)This paragraph does not apply in relation to a supply consisting of the grant of a right to goods or services (see paragraph 3).Previous: ParagraphNext: ParagraphBack to topOptions/HelpPrint OptionsPrint The Whole ActPDF The Whole ActWeb page The Whole ActPrint The Whole SchedulePDF The Whole ScheduleWeb page The Whole SchedulePrint The Whole PartPDF The Whole PartWeb page The Whole PartPrint The Whole Cross HeadingPDF The Whole Cross HeadingWeb page The Whole Cross HeadingPrint This Section onlyPDF This Section onlyWeb page This Section onlyYou have chosen to open The Whole ActThe Whole Act you have selected contains over 200 provisions and might take some time to download. 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