[F15.—(1) Subject to paragraph (2) below and article 16 below, a taxable person falls within this article in any year if the total amount of tax which he was liable to pay in respect of the prescribed accounting periods the ends of which fell within the period of one year ending on the last day of his last prescribed accounting period ending before the previous 1st December exceeded [F2£2,300,000].
(2) Where in any year ending 30th November a prescribed accounting period of the taxable person did not begin on the first day or did not end on the last day of a month, the period of one year shall, for the purpose of this article, be regarded as having compromised those prescribed account periods which related to the tax periods ending within the year ending 30th November of that year to which references are shown in the certificate of registration issued to him.]
Textual Amendments
F1Art. 5 substituted (2.3.1995) by The Value Added Tax (Payments on Account) (Amendment) Order 1995 (S.I. 1995/291), arts. 1, 5 (with art. 13)
F2Sum in art. 5(1) substituted (1.12.2011) by The Value Added Tax (Payments on Account) (Amendment) Order 2011 (S.I. 2011/21), arts. 1(2), 2(b)
Commencement Information
I1Art. 5 in force at 2.9.1993, see art. 1