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Finance Act 1977

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This is the original version (as it was originally enacted).

15Registration limits

(1)Paragraphs 1 and 2 of Schedule 1 to the Finance Act 1972 (liability to be registered) shall be amended as follows.

(2)In paragraph 1, in the provisions before the Table, for " £5,000 " (in both places) there shall be substituted

£7,500

and in the second column of the Table for " 1,750 ", " 3,000 ", "4,250" and "5,000" there shall be substituted respectively

2,625, " 4,500 ", " 6,375 " and " 7,500 ".

(3)In paragraph 2 for " £4,000 " (in both places) there shall be substituted

£6,000,

and for "£1,250 " there shall be substituted

£1,875.

(4)In section 20(1) of that Act (registration of local authorities) for "£5,000" (in both places) there shall be substituted

£7,500.

(5)In Schedule 2 to that Act, at the end of paragraph 3 (deemed supply of business assets, where business proprietor de-registered, except in certain cases), there shall be added— or

(c)the tax on the deemed supply would be not more than £50.

(6)Subsection (5) above shall not come into force until 5th August 1977, and subsections (1) to (4) not until 1st October 1977.

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