Finance Act 2007

9After that paragraph insert—E+W+S+N.I.

Reduced-rate supplies: deemed supplyE+W+S+N.I.

45A(1)This paragraph applies where—

(a)a taxable supply has been made to any person (“the recipient”),

(b)the supply was made on the basis that it was a reduced-rate supply, and

(c)it is later determined that the supply was not a reduced-rate supply.

(2)For the purposes of this Schedule—

(a)the recipient is deemed to make a taxable supply to itself of the taxable commodity, and

(b)the amount payable by way of levy on that deemed supply is 80 per cent. of the amount that would be payable if the supply were not a reduced-rate supply.

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Commencement Information

I1Sch. 2 para. 9 in force at 1.11.2007 by S.I. 2007/2902, art. 2(1) (with art. 2(3)(4))