Election for basic tax point to apply
VATA 1994, s 88 sets out a permanent procedure for applying the tax point rules when either the rate of tax changes or a description of exempt, zero-rated or reduced rated supplies is changed1.
The procedure may be applied if a basic tax point2 falls on one side of the change and a tax point arising from receiving a payment or issuing an invoice3 falls on the other. The supplier may elect that the rate at which tax is chargeable on the supply, or any question
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