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- Point in Time (28/07/2000)
- Original (As enacted)
Version Superseded: 11/05/2001
Point in time view as at 28/07/2000.
There are currently no known outstanding effects for the Finance Act 2000, Cross Heading: Provisional collection of levy.
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141(1)Where—
(a)by virtue of a resolution having effect under the Provisional Collection of M1Taxes Act 1968 (which is amended by Schedule 7 to this Act so as to apply in relation to levy), levy has been paid at a rate specified in the resolution on a supply of a taxable commodity, and
(b)by virtue of section 1(6) or (7) or 5(3) of that Act, any of the levy paid is repayable in consequence of the restoration in relation to the supply of a lower rate,
the amount repayable shall be the difference between the levy paid on the supply at the rate specified in the resolution and the levy that would have been payable on a supply of the same quantity of the commodity at the lower rate.
(2)Where—
(a)by virtue of a resolution having effect under that Act, levy is chargeable at a rate specified in the resolution on a supply of a taxable commodity, but
(b)before the levy is paid it ceases to be chargeable at that rate in consequence of the restoration in relation to the supply of a lower rate,
the levy chargeable at the lower rate shall be charged by reference to the same quantity of the commodity as that by reference to which levy would have been chargeable at the rate specified in the resolution.
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