Section 43AA — Value Added Tax Act 1994: Power to alter eligibility for grouping

Power to alter eligibility for grouping 43AA 1 The Treasury may by order provide for sections 43A and 43AZA to have effect with specified modifications in relation to a specified class of person.

2 An order under subsection (1) may, in particular—

a make provision by reference to generally accepted accounting practice;

b define generally accepted accounting practice for that purpose by reference to a specified document or instrument (and may provide for the reference to be read as including a reference to any later document or instrument that amends or replaces the first);

c adopt any statutory or other definition of generally accepted accounting practice (with or without modification);

d make provision by reference to what would be required or permitted by generally accepted accounting practice if accounts, or accounts of a specified kind, were prepared for a person.

3 An order under subsection (1) may also, in particular, make provision by reference to—

a the nature of a person;

b past or intended future activities of a person;

c the relationship between a number of persons;

d the effect of including a person within a group or of excluding a person from a group.

4 An order under subsection (1) may—

a make provision which applies generally or only in specified circumstances;

b make different provision for different circumstances;

c include supplementary, incidental, consequential or transitional provision.