3U.K.For paragraph 2 (amount of penalty for occasional or annual returns) and the italic heading preceding it substitute—
2(1)Paragraphs 3 to 6 apply in the case of—
(a)a return falling within any of items 1 to 5, 7 and 8 to 13 in the Table,
(b)a return falling within any of items 7A, 7B and 14 to 28 which relates to a period of 6 months or more, and
(c)a return falling within item 7A which relates to a transitional period for the purposes of the annual accounting scheme.
(2)In sub-paragraph (1)(c), a transitional period for the purposes of the annual accounting scheme is a prescribed accounting period (within the meaning of section 25(1) of VATA 1994) which—
(a)ends on the day immediately preceding the date indicated by the Commissioners for Her Majesty's Revenue and Customs in a notification of authorisation under regulation 50 of the Value Added Tax Regulations 1995 (S.I. 1995/2518) (admission to annual accounting scheme), or
(b)begins on the day immediately following the end of the last period of 12 months for which such an authorisation has effect.”
Commencement Information
I1Amendments made by Sch. 10 para. 3 in force at 12.2.2019 for specified purposes by 2019 c. 1, s. 67(2)
I2Amendments made by Sch. 10 para. 3 in force at 1.4.2022 for specified purposes by Finance Act 2021 (c. 26), Sch. 15 para. 3(2)