SCHEDULES

F1SCHEDULE 9ZDDistance selling of goods from Northern Ireland: special accounting scheme

Annotations:
Amendments (Textual)
F1

Schs. 9ZD-9ZF inserted (10.6.2021 for specified purposes, 1.7.2021 for specified purposes) by Finance Act 2021 (c. 26), s. 95(6)(a), Sch. 18 para. 6; S.I. 2021/770, regs. 3, 4 (with regs. 5-7)

PART 5Collection of F2...UK VAT

Annotations:
Amendments (Textual)

Interest on VAT: “reckonable date”

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1

Sub-paragraph (2) states the “reckonable date” for the purposes of section 74(1) and (2) for any case where an amount carrying interest under that section—

a

is an amount assessed under section 73(2) (refunds etc) F3in relation to an OSS scheme return or in reliance on paragraph 22, or that could have been so assessed, and

b

was correctly paid or credited to the person, but would not have been paid or credited to the person had the facts been as they later turn out to be.

2

The “reckonable date” is the first day after the end of the tax period in which the events occurred as a result of which the Commissioners were authorised to make the assessment (that was or could have been made) under section 73(2).

3

Sub-paragraph (4) states the “reckonable date” for any other case where an amount carrying interest under section 74 is assessed under section 74(1) or (2) F4in relation to an OSS scheme return or in reliance on paragraph 22, or could have been so assessed.

4

The “reckonable date” is taken to be the latest date by which F5the OSS scheme return or a non-UK return was required to be made for the tax period to which the amount assessed relates.

5

Where section 74(1) or (2) (interest on VAT recovered or recoverable by assessment) applies in relation to an amount assessed under section 73(3A) (treated as inserted by paragraph 23(2)), the “reckonable date” for the purposes of section 74(1) or (2) is taken to be the day after the end of the tax period referred to in paragraph 33(2).