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HMRC Notice 728 New means of transport


Foreword

This notice cancels and replaces Notice 728 (September 2008). Details of any changes to the previous version can be found in paragraph 1.3 of this notice.

Paragraph 3.6 of this notice has the force of law under the VAT Act 1994, Schedule 6, Item 11(2). Paragraph 6.1 of this notice has the force of law under the VAT Regulations 1995, Regulation 155. Section 11 of this notice has the force of law under the VAT Regulations 1995, Regulation 22. These paragraphs are indicated by being placed in a box.

EXAMPLE:

The following rule has the force of law
If you receive a net payment you must include the full value before such deductions (including VAT) in your scheme turnover. This will usually be the value shown on your sales invoice.

Published 18 October 2012

SOURCE: CCH Online


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