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26(1)Part 2 of this Schedule applies to amounts otherwise recoverable under paragraph 5(3) of Schedule 11 to VATA 1994 as a debt due to the Crown (amounts shown on invoices as VAT etc) in the same way as it applies to VAT.
(2)But in the application of Part 2 to such amounts—
(a)a reference to the value of a supply on which VAT is charged is a reference to the value of the supply shown in the invoice mentioned in paragraph 5(2) of that Schedule,
(b)“the taxable event” takes place when the invoice is issued,
(c)the value of the supply shown in the invoice is “untaxed” if the amount otherwise recoverable under paragraph 5(3) of that Schedule has not been recovered, and
(d)“ceasing to be liable” to tax on the value of that supply means that the amount otherwise recoverable is no longer recoverable.
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