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STATUTORY INSTRUMENTS
2006 No. 876
VALUE ADDED TAX
The Value Added Tax (Increase of Registration Limits) Order 2006
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Made |
22nd March 2006 | |
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Laid before the House of Commons |
22nd March 2006 | |
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Coming into force |
1st April 2006 | |
The Treasury make the following Order in exercise of the powers conferred by paragraph 15 of Schedule 1 and paragraph 9 of Schedule 3 to the Value Added Tax Act 1994[1]:
1.
This Order may be cited as the Value Added Tax (Increase of Registration Limits) Order 2006 and comes into force on 1st April 2006.
2.
In Schedule 1 to the Value Added Tax Act 1994 (registration in respect of taxable supplies)—
(a) in paragraph 1(1)(a), (1)(b), (2)(a) and (2)(b), for "£60,000" substitute "£61,000"; and
(b) in paragraphs 1(3) and 4(1) and (2), for "£58,000" substitute "£59,000".
3.
In Schedule 3 to the Value Added Tax Act 1994 (registration in respect of acquisitions from other member States)—
(a) in paragraph 1(1) and (2), and
(b) in paragraph 2(1)(a), (1)(b) and (2),
for "£60,000" substitute "£61,000".
Tom Watson
Dave Watts
Two of the Lords Commissioners of Her Majesty's Treasury
22nd March 2006
EXPLANATORY NOTE
(This note is not part of the Order)
This Order increases the VAT registration limits for taxable supplies and for acquisitions from other member States from £60,000 to £61,000, with effect from 1st April 2006.
This Order also increases the limit for cancellation of registration in the case of taxable supplies from £58,000 to £59,000, and in the case of acquisitions from other member States from £60,000 to £61,000, with effect from 1st April 2006.
A full regulatory impact assessment has not been produced for this instrument as it has no impact on the costs of business, charities or voluntary bodies.
Notes:
[1]
1994 c.23; the amounts in Schedules 1 and 3 were last varied by S.I. 2005/727.back
ISBN
0 11 074390 3
| © Crown copyright 2006 |
Prepared
28 March 2006
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