Finance Act 1999

19 Period before repayment supplement payable

(1) Section 79 of the [1994 c. 23.] Value Added Tax Act 1994 (repayment supplement) shall be amended as follows.

(2) In subsection (2)(b), for “the period of 30 days beginning on the date of the receipt by the Commissioners of that return or claim” there shall be substituted “the relevant period”.

(3) After subsection (2) there shall be inserted—

“(2A) The relevant period in relation to a return or claim is the period of 30 days beginning with the later of—

(a) the day after the last day of the prescribed accounting period to which the return or claim relates, and

(b) the date of the receipt by the Commissioners of the return or claim.”

(4) In subsections (3) and (7), for “subsection (2)(b)” there shall be substituted “subsection (2A)”; and regulations under subsection (3) shall be construed accordingly.

(5) This section has effect in relation to returns and claims received by the Commissioners on or after 9th March 1999.