Part 5 General Provisions
Finance Act 2012 (2012 c 14) | Legislation

Part 5 General Provisions

Information exchange

25

No obligation of secrecy (whether imposed by statute or otherwise) prevents HMRC from disclosing information pursuant to a request made by virtue of Article 36 (reciprocity measures of the United Kingdom).

Amounts recoverable as if they were VAT

26

(1)     Part 2 of this Schedule applies to amounts otherwise recoverable under paragraph 5(3) of Schedule 11 to VATA 1994 as a debt due to the Crown (amounts shown on invoices as VAT etc) in the same way as it applies to VAT.

(2)     But in the application of Part 2 to such amounts—

(a)     a reference to the value of a supply on which VAT is charged is a reference to the value of the supply shown in the invoice mentioned in paragraph 5(2) of that Schedule,

(b)     “the taxable event†takes place when the invoice is issued,

(c)     the value of the supply shown in the invoice is “untaxed†if the amount otherwise recoverable under paragraph 5(3) of that Schedule has not been recovered, and

(d)     “ceasing to be liable†to tax on the value of that supply means that the amount otherwise recoverable is no longer recoverable.

[Transfers

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

A married but non-cohabiting couple are looking to extend their leave under Tier 2 (General). They have

A married but non-cohabiting couple are looking to extend their leave under Tier 2 (General). They have not been living at the same address in the UK since 2017 but are in a genuine relationship. What effect will this have on their extension application?Immigration Rules, Part 8, para 319C sets out

LEXISNEXIS

Notice of assignment

notice of [assignment OR transfer]To: [insert name of landlord][of [insert address] OR whose registered office is at [insert address] Company number [insert number]][and][To: [insert name of head landlord]][of [insert address] OR whose registered office is at [insert address] Company number [insert

LEXISNEXIS

Negligent misstatement—defences and remedies

Negligent misstatement—defences and remediesThere are a number of ways in which liability for negligent misstatement may be avoided and/or limited. For details on founding a claim of negligent misstatement, see Practice Note: Negligent misstatement—founding a claim.For guidance generally on clauses

LEXISNEXIS

Resulting trusts

Resulting trusts represent one of the three types of trust which do not require to be declared or evidenced in writing. The others are constructive and implied trusts, although it is perhaps doubtful whether there is any form of implied trust which is not in fact either a resulting trust or a