Details of the Section
2.Subsection (1) provides that the Value Added Tax (Change of Rate Order) 2008, which temporarily reduces the standard rate of VAT to 15 per cent, will cease to be in force on 1 January 2010.
3.Subsection (2)(a) introduces Parts 1 to 5 of Schedule 3, which provide for a supplementary charge to VAT and govern the circumstances to which it applies.
4.Subsection (2)(b) introduces Part 6 of Schedule 3, which provides for minor amendments to VATA provisions that allow a temporary adjustment to the standard rate of VAT.