£5,000 limit

Commentary – Indirect Tax Reporter ¶55-405

Accounting system, required changes

Commentary – Indirect Tax Reporter ¶60-621

Adjustment of output tax

Legislation/Regulatory – SI 1995/2518 reg. 172K-172N ; VATA94 s. 26AB

Adjustments to VAT account where supply becomes or ceases to be a supply

Legislation/Regulatory – SI 1995/2518 reg. 38A

Application

Conditions

Commentary – Indirect Tax Reporter ¶55-405

Power to amend law

Commentary – Indirect Tax Reporter ¶55-405

Cash accounting scheme

Commentary – Indirect Tax Reporter ¶55-405 ; Indirect Tax Reporter ¶55-450

Charities

Commentary – Indirect Tax Reporter ¶50-000 ; Indirect Tax Reporter ¶55-405

Contra-trading fraud considered

Commentary – Indirect Tax Reporter ¶55-405

Corresponding supply

Commentary – Indirect Tax Reporter ¶55-405

Effective date: 1 June 2007

Commentary – Indirect Tax Reporter ¶60-621

Enforcement

Commentary – Indirect Tax Reporter ¶55-405

Excepted supply

Commentary – Indirect Tax Reporter ¶55-405

Flat-rate scheme

Commentary – Indirect Tax Reporter ¶55-350 ; Indirect Tax Reporter ¶55-405
Legislation/Regulatory – SI 1995/2518 reg. 55C(6)

General provision

Legislation/Regulatory – VATA94 s. 55A

Generally

Commentary – Indirect Tax Reporter ¶60-620 ; Indirect Tax Reporter ¶60-621

Goods subject to

Commentary – Indirect Tax Reporter ¶55-405

Interaction with

Annual accounting scheme

Commentary – Indirect Tax Reporter ¶55-300

Cash accounting scheme

Commentary – Indirect Tax Reporter ¶55-450

Flat-rate scheme for small firms

Commentary – Indirect Tax Reporter ¶55-350

Margin scheme

Commentary – Indirect Tax Reporter ¶48-630

Invoices

Commentary – Indirect Tax Reporter ¶55-405 ; Indirect Tax Reporter ¶55-800

Local authorities

Commentary – Indirect Tax Reporter ¶51-430 ; Indirect Tax Reporter ¶55-405

Payments on account

Legislation/Regulatory – SI 1993/2001 art. 2A

Payments on account scheme unaffected by

Commentary – Indirect Tax Reporter ¶55-405 ; Indirect Tax Reporter ¶55-410

Penalties initially applied with light touch

Commentary – Indirect Tax Reporter ¶55-405

Recipient of supply accounting for VAT

Commentary – Indirect Tax Reporter ¶55-405

Registration number, checking

Commentary – Indirect Tax Reporter ¶55-405

Registration threshold

Commentary – Indirect Tax Reporter ¶43-075 ; Indirect Tax Reporter ¶55-405 ; Indirect Tax Reporter ¶60-621

Return entries

Commentary – Indirect Tax Reporter ¶55-405

Reverse charge sales lists

Commentary – Indirect Tax Reporter ¶55-405

Sales statements

– see Reverse charge sales statements (RCSSs)

Second-hand margin scheme

Commentary – Indirect Tax Reporter ¶48-630 ; Indirect Tax Reporter ¶55-405

Services subject to reverse charge

Commentary – Indirect Tax Reporter ¶55-405

Tax debit note

Commentary – Indirect Tax Reporter ¶55-405

Unpaid supplies: adjustment of reverse charge

Commentary – Indirect Tax Reporter ¶60-621

Value of supply

Commentary – Indirect Tax Reporter ¶55-405