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16 Value Added Tax (Supplies Arising From Prior Grant Of Fee Simple)

Volume 403: debated on Monday 14 April 2003

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Resolved,

That—

(1) After section 96(10A) of the Value Added Tax Act 1994 there shall be inserted—

"(10B) Notwithstanding subsection (10A) above—

  • (a) item 1 of Group 1 of Schedule 9 does not make exempt any supply that arises for the purposes of this Act from the prior grant of a fee simple falling within paragraph (a) of that item; and
  • (b) that paragraph does not prevent the exemption of a supply that arises for the purposes of this Act from the prior grant of a fee simple not falling within that paragraph.".
  • (2) This Resolution shall apply in relation to any supply that arises for the purposes of the Value Added Tax Act 1994 from the prior grant of a fee simple made on or after 9th April 2003.

    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.