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The Value Added Tax (Reduced Rate) (No. 2) Order 2007

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EXPLANATORY NOTE

(This note is not part of the Order)

This Order, which comes into force on 1st January 2008, amends Schedule 7A to the Value Added Tax Act 1994. Part 2 of that Schedule contains the Groups of supplies of goods and services that are subject to the reduced rate of VAT of 5% and Part 1 contains the Index to those Groups.

Articles 2, 3 and 4 of this Order amend paragraph 3 of the Notes to Group 7 of Schedule 7A to the Value Added Tax Act 1994 (c. 23) so as to reduce from 3 years to 2 years the period of time for which qualifying residential premises must be empty before supplies of qualifying services and building materials used in relation to the renovation or alteration of such premises may be charged at the reduced rate of VAT of 5 per cent.

A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

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