Orders of the Day — 27. Value Added Tax (Default Surcharge)

– in the House of Commons at 9:30 pm on 22nd March 1993.

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  1. (1) In section 19 of the Finance Act 1985, in subsection (5)—
    1. (a) at the end of paragraph (b) there shall be inserted "and", and
    2. (b) for paragraphs (c) and (d) there shall be substituted the following paragraph—
    3. "(c) in relation to each such period after the second, the specified percentage is 15 per cent."

(2) This Resolution shall apply in relation to any liability to a surcharge arising on or after 1st April 1993.

And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.