Section 15 — Value Added Tax Regulations 1995: Change of rate, credit notes

Change of rate, credit notes 15 1 Where there is a change in the rate of VAT in force under section 2 or 29A of the Act or in the descriptions of exempt , zero-rated or reduced-rate supplies, and a VAT invoice which relates to a relevant supply in respect of which an election is made under section 88 of the Act was issued before the election was made, the person making the supply shall, within 45 days after any such change or within such longer period as the Commissioners may allow in general or special , provide the person to whom the supply was made with a credit note headed “Credit note-change of VAT rate” and containing the following particulars—

a the identifying number and date of issue of the credit note, b the name, address and registration number of the supplier, c the name and address of the person to whom the supply is made, d the identifying number and date of issue of the VAT invoice, e a description sufficient to identify the goods or services supplied, and f the amount being credited in respect of VAT.

2 In this regulation, “ relevant supply ” means a supply of goods or services other than a supply of goods to a person who is not a taxable person.