First Previous (PART II Customs and Excise) Next (PART IV Capital Acquisitions Tax)

14 1980

FINANCE ACT, 1980

PART III

Value-Added Tax

Increase of rate of tax on certain goods and services.

80. —As respects goods supplied or imported, or services supplied, on or after the 1st day of May, 1980—

(a) section 11 (1) (inserted by the Value-Added Tax (Amendment) Act, 1978 ) of the Value-Added Tax Act, 1972 , shall have effect as if the following paragraph were substituted for paragraph (c):

“(c) 25 per cent. of the amount on which tax is chargeable in relation to the supply of any goods or services, other than goods or services on which tax is chargeable at either of the rates specified in paragraphs (a) and (b) or which are mentioned in the First Schedule, but including radio receiving sets that are of the domestic or portable type or that are of a type suitable for use in road vehicles, and gramophones, radio-gramophones and record players.”, and

(b) section 49 of the Finance Act, 1979 , shall have effect as if “the rate of value-added tax on radio receiving sets that are of the domestic or portable type or that are of a type suitable for use in road vehicles, and on gramophones, radio-gramophones and record players, shall be increased from 10 per cent. of the amount or value, as the case may be, in respect of which tax is chargeable on those goods to 20 per cent. of that amount or value and, accordingly,” were deleted.

Amendment of section 8 of Value-Added Tax Act, 1972.

81. —With effect as on and from the 1st day of May, 1980, section 8 of the Value-Added Tax Act, 1972 (inserted by the Value-Added Tax (Amendment) Act, 1978 ), is hereby amended—

(a) by the substitution of the following paragraph for paragraph (e) of subsection (3):

“(e) a person, other than a person to whom paragraph (a), (b), (c) or (d) applies, for whose supply of taxable goods and services the total consideration has not exceeded and is not likely to exceed £3,000 in any period consisting of 6 consecutive taxable periods”, and

(b) by the insertion in subsection (4), after “(3) (b) (iii)” of “, (3) (e)” and the substitution of “any one” for “either” where it occurs in that subsection and the subsection as so amended is set out in the Table to this section.

TABLE

(4) Where, by virtue of subsection (3) or (6), a person has not been a taxable person and a change of circumstances occurs which continues beyond the end of the taxable period next after the taxable period or the period referred to in subsection (3) (b) (iii), (3) (e) or (9), as the case may be, during which such change occurs whereby he can no longer be deemed, for the purposes of this Act, not to be a taxable person by virtue of any one of those subsections, he shall be deemed, for those purposes, to be a taxable person immediately after the end of the first mentioned taxable period.

Amendment First Schedule to Value-Added Tax Act, 1972.

82. —With effect as on and from the 1st day of July, 1980, the First Schedule to the Value-Added Tax Act, 1972 (inserted by the Value-Added Tax (Amendment) Act, 1978 ) is hereby amended by the substitution of the following paragraph for paragraph (xv):

“(xv) the acceptance of bets subject to the duty of excise imposed by section 24 of the Finance Act, 1926 , and of bets where the event which is the subject of the bet is either a horse race or a greyhound race and the bet is entered into during the meeting at which such race takes place and at the place at which such meeting is held;”.