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(This note is not part of the Order)
This Order which comes into force on 31st December 2009 provides for an exception to the categories of supply in relation to which a supplementary charge is due under Schedule 3 to the Finance Act 2009.
Article 2 of the Order sets out circumstances in which a supplementary charge which would otherwise be due under paragraph 2 of Schedule 3 to the Finance Act 2009 shall not be due. These are that the only relevant condition met is condition D, that the VAT invoice relates to a specified supply, forms part of the relevant agreement and is issued in accordance with the supplier’s normal commercial practice and that the basic time of supply of the goods is intended and expected to be within six months of the date of that invoice.
Article 3 of the Order defines “normal commercial practice” and “basic time of supply”.
A full impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.
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