Related Commentary  

55V(1)  This regulation applies where–

(a)a person has made a relevant supply,

(b)he has used the cash turnover method to determine the value of his relevant turnover for the prescribed accounting period in which the relevant supply was made,

(c)he has not accounted for and paid VAT on the supply,

(d)the whole or any part of the consideration for the supply has been written off in his accounts as a bad debt, and

(e)a period of 6 months (beginning with the date of the supply) has elapsed.

55V(2)  Where this regulation applies–

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