Commentary

V1.272 Rules, regulations, directions, etc

Part V1 General principles and rates of tax

V1.272 Rules, regulations, directions, etc

V1.272 Rules, regulations, directions, etc

VAT legislation gives HMRC wide powers to make rules and regulations by statutory instrument in connection with specified matters1. HMRC thus have power to direct that taxable persons fulfil specific conditions in particular circumstances. For example—

  1.  

    (1)     HMRC may permit the value of supplies made by a retailer to be calculated by a method laid down in a notice published by them, which may be varied by the publication of a fresh notice2.

  2.  

    (2)     HMRC may direct in a notice the conditions to be met by a person to qualify to use the margin scheme3

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