Part 12

Supplementary provisions
Chapter 2

Additional VAT liabilities and rebates: interpretation, etc.

Chargeable period in which, and time when, additional VAT liability or rebate accrues
549
1
The chargeable period in which, and the time when, an additional VAT liability or additional VAT rebate accrues is set out in the Table.
Table

Accrual of VAT liabilities and rebates
Circumstances | Chargeable period | Time of accrual
The liability or rebate is accounted for in a VAT return. | The chargeable period which includes the last day of the period to which the VAT return relates. | The last day of the period to which the VAT return relates.
The Commissioners of Customs and Excise assess the liability or rebate as due before a VAT return is made. | The chargeable period which includes the day on which the assessment is made. | The day on which the assessment is made.
The relevant activity is permanently discontinued before the liability or rebate is accounted for in a VAT return or assessed by the Commissioners. | The chargeable period in which the relevant activity is permanently discontinued. | The last day of the chargeable period in which the relevant activity is permanently discontinued.
2
In the Table—
a
“VAT return” means a return made to the Commissioners of Customs and Excise for the purposes of value added tax, and
b
“the relevant activity” means the trade or, in relation to Part 2, the qualifying activity to which the additional VAT liability or additional VAT rebate relates.