SCHEDULES

C1SCHEDULE 36Agreement between UK and Switzerland

Annotations:
Modifications etc. (not altering text)

PART 5General provisions

Amounts recoverable as if they were VAT

26

1

Part 2 of this Schedule applies to amounts otherwise recoverable under paragraph 5(3) of Schedule 11 to VATA 1994 as a debt due to the Crown (amounts shown on invoices as VAT etc) in the same way as it applies to VAT.

2

But in the application of Part 2 to such amounts—

a

a reference to the value of a supply on which VAT is charged is a reference to the value of the supply shown in the invoice mentioned in paragraph 5(2) of that Schedule,

b

“the taxable event” takes place when the invoice is issued,

c

the value of the supply shown in the invoice is “untaxed” if the amount otherwise recoverable under paragraph 5(3) of that Schedule has not been recovered, and

d

“ceasing to be liable” to tax on the value of that supply means that the amount otherwise recoverable is no longer recoverable.