122. Repeal of the Value-Added Tax Act 1972, etc.

Summary

This section repeals the 1972 VAT Act and provides for continuity provisions.

Details

(1) Subsection (1) repeals the 1972 VAT Act. This is subject to subsection (2).

(2) The new Act does not apply in relation to taxable periods ending before 1 November 2010; the pre-consolidation legislation applies in such cases.

(3) The provisions of the repealed VAT Act 1972 which impose a fine, forfeiture, penalty or punishment in respect of an offence continue in force in so far as they are concerned with an offence that was committed or began before the date of passing of the VAT Consolidation Act 2010.

(4) Anything done under the provisions of the repealed enactments that corresponds with the provisions of the VAT Consolidation Act 2010 are deemed to have been done under the corresponding provision of VAT Consolidation Act 2010 – this doesn’t affect the operation of the transitional rules in section 124.

Relevant Date: Finance Act 2019