Value Added Tax (Bad Debt Relief) Regulations 1978
| Jurisdiction | UK Non-devolved |
| Citation | SI 1978/1129 |
| Year | 1978 |
1978 No. 1129
VALUE ADDED TAX
The Value Added Tax (Bad Debt Relief) Regulations 19782ndAugust 1978
3rdAugust 1978
2ndOctober 1978
The Commissioners of Customs and Excise, in exercise of the powers conferred on them by section 12(3) and (4) of the Finance Act 1978(a) and of all other powers enabling them in that behalf, hereby make the following Regulations:—
Citation and commencement
1. These Regulations may be cited as the Value Added Tax (Bad Debt Relief) Regulations 1978 and shall come into operation on 2nd October 1978.
Interpretation
2.—(1) In these Regulations—
"claimant" means a person who makes a claim in accordance with Regulation 3 of these Regulations for a refund of tax to which he is entitled by virtue of section 12 of the Finance Act 1978;
"debtor" means the individual, or company, mentioned in subsection 4 of section 12 of the Finance Act 1978 who, or which, has become insolvent within the meaning of the said section;
"purchaser" means a person (whether or not he is the debtor) to whom the claimant made a supply or supplies for consideration in money which the debtor is liable to pay;
"Principal Regulations" means the Value Added Tax (General) Regulations 1977(b) as amended(c);
"refund" means a refund of tax to which the claimant is entitled by virtue of section 12 of the Finance Act 1978.
(2) The Interpretation Act 1889(d) shall apply for the interpretation of these Regulations as it applies for the interpretation of an Act of Parliament.
The making of a claim to the Commissioners
3.—(1) Save as the Commissioners may otherwise allow or direct, the claimant shall make a claim to the Commissioners by including in box 8 of the return prescribed in paragraph (2) of this Regulation the correct amount of the refund.
(a) 1978 c. 42.
(b) S I. 1977/1759.
(c) The relevant amending instrument is S.I. 1978/972.
(d) 1889 c. 63.
(2) The return shall be the one which the claimant is required to furnish in accordance with Regulation 51 of the Principal Regulations, for the prescribed accounting period during which he received the document mentioned in sub-paragraph (a) of Regulation 4 of these Regulations; except that in the case of an award of sequestration mentioned in subparagraph (a)(ii) of Regulation 9 of these Regulations, it shall be the next return which the claimant is required to furnish upon the expiration of the three months mentioned therein.
Evidence required of the claimant in support of his claim
4. Save as the Commissioners may allow, the claimant, before he makes a claim, shall hold—
(a) a document issued to him by the person with whom he proves in the insolvency of the debtor which specifies the total amount for which he has so proved (except that this requirement shall not apply in the case of an award of sequestration mentioned in subparagraph (a)(ii) of Regulation 9 of these Regulations);
(b) (i) a copy of the tax invoice which was provided in accordance with Part III of the Principal Regulations in respect of each taxable supply upon which the claim for the refund is based; or
(ii) in cases where there was no obligation to provide a tax invoice, a document which shows the...
To continue reading
Request your trial