The Value Added Tax (General) (Amendment) (No. 4) Regulations 1992

12.  After regulation 18 there shall be inserted the following regulations—

“Time of acquisition

18A.   Where the time that goods are acquired from another member State falls to be determined in accordance with section 8B(1)(b) of the Act(1) by reference to the day of the issue, in respect of the transaction in pursuance of which the goods are acquired, of an invoice of such description as the Commissioners may by regulations prescribe, the invoice shall be one which is issued by the supplier under the provisions of the law of the member State where the goods were supplied, corresponding in relation to that member State, to the provisions of regulations 12 and 13.

Supplies of land-special cases

18B.— (1) Where by or under any enactment an interest in, or right over, land is compulsorily purchased and, at the time determined in accordance with section 4(2) or (3) of the Act, the person (the grantor) from whom it is purchased does not know the amount of payment that he is to receive in respect of the purchase then goods or, as the case may require, services shall be treated as supplied each time the grantor receives any payment for the purchase.

(2) Where a person (the grantor) grants or assigns the fee simple in any land, and at the time of the grant or assignment, the total consideration for it is not determinable, then goods shall be treated as separately and successively supplied at the following times—

(a) the time determined in accordance with sections 4(2) or 5(1), (2), (3), (4) or (5) of the Act, as the case may require, and

(b) the earlier of the following times—

(i) whenever any part of the consideration which was not determinable at the time mentioned in sub-paragraph (a) above is received by the grantor, or

(ii) whenever the grantor issues a tax invoice in respect of such a part.”.

(1)

Section 8(1)(b) is to be inserted by section 14(2) of, and paragraph 10 of Schedule 3 to, the Finance (No. 2) Act 1992 on a day appointed in accordance with section 14(3) of that Act.