Finance Act, 1994

Amendment of section 8 (taxable persons) of Principal Act.

94.—Section 8 of the Principal Act is here by amended—

(a) in subparagraph (iii) of paragraph (e) of subsection (1A) (inserted by the Finance Act, 1993 ) by the substitution of “specified in the First Schedule” for “specified in paragraph (vi), (vii), (xxii) or (xxiii) of the First Schedule”,

(b) in subsection (3) (inserted by the Act of 1992) by the substitution—

(i) in paragraph (a) of “£20,000” for “£15,000”,

(ii) in paragraph (b) (ii) of the following clause for clause (II):

“(II) supplies of other goods and services the total consideration for which is such that such person would not, because of the provisions of paragraph (c) or (e), be a taxable person if such supplies were the only supplies made by such person,”,

(iii) in paragraph (c) (i) of “£40,000” for “£32,000”, and

(iv) in paragraph (e) of “£20,000” for “£15,000”,

(c) in subsection (3A) (inserted by the Act of 1982) by the substitution of “£20,000” for “£15,000” (inserted by the Act of 1989), and

(d) in subsection (9) (inserted by the Act of 1978), in paragraph (b) of the definition of “farmer” (inserted by the Act of 1982)—

(i) by the substitution in subparagraph (ii) of “£20,000” for “£15,000” (inserted by the Act of 1989),

and

(ii) by the substitution of the following subparagraph for subparagraph (iii):

“(iii) supplies of goods and services other than those referred to in subparagraphs (i) and (ii) or paragraph (a), the total consideration for which is such that such person would not, because of the provisions of paragraph (c) or (e) of subsection (3), be a taxable person if such supplies were the only supplies made by such person.”.