FRS1200 - Introduction: Law and regulations
»Ê¹ÚÌåÓýapp legal vires for the scheme with effect from 25 April 2002 are
| Type of legislation | Enactment |
|---|---|
| EU | Council Directive 2006/112/EC (Article 281) (Previously Article 24 of the Sixth VAT Directive) |
| Primary | »Ê¹ÚÌåÓýapp VAT Act 1994, section 26B |
| Secondary | »Ê¹ÚÌåÓýapp VAT Regulations 1995, regulations 55A to 55V, inserted by the VAT (Amendment) (No.2) Regulations 2002 (which also made other consequential amendments) |
| Tertiary | Contained in Notice 733 and identified by the statement ‘»Ê¹ÚÌåÓýapp following rule has the force of lawâ€� and by being placed in a box |
»Ê¹ÚÌåÓýapp VAT (Amendment) Regulations 2003 subsequently amended the turnover limit and substituted a new Table of flat rates and trade sectors. It also introduced the reduced percentage for businesses that are within their first year of registration.
»Ê¹ÚÌåÓýapp VAT (Amendment) Regulations 2004 subsequently substituted a new Table of flat rates and trade sectors and provided transitional arrangements for couriers.