Amendment to VAT Regulation 38: Statutory Instrument technical consultation

The measure will introduce revised rules on when and how Regulation 38 adjustments should be made.

The change is intended to make clear that such adjustments must be made at the time a change in consideration occurs, and that the customer must benefit from reductions in consideration.

While considering your response, you can read:

• The Value Added Tax (Amendment) Regulations 2019 (draft)
• a tax information and impact note: VAT Accounting Rules - Regulation 38