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HMRC internal manual

VAT Annual Accounting Scheme

From
HM Revenue & Customs
Updated
, see all updates

Introduction: Law

The law governing the scheme is contained in:

  • VAT Act 1994, section 25(1) and Schedule 11 paragraphs 2(1) and (11);
  • VAT Regulations 1995 Regulations 49 to 55, amended by the Value Added Tax (Amendment) (No 2) Regulations 2002, with effect from 25 April 2002;
  • Regulations 52(1)(a) and 53(2)(a), amended by the Value Added Tax (Amendment) (No 2) Regulations 2003, with effect from 10 April 2003; and
  • Regulation 52 to 55, amended by the Value Added Tax (Amendment) Regulations 2006, with effect from 1 April 2006.