The Value Added Tax (Special Provisions) (Amendment) (No. 2) Order 2002
This Order, which comes into force on 1st July 2002, amends the Value Added Tax (Special Provisions) Order 1995 (the “principal Order”). It prevents the sale of goods being taxed under the margin scheme following certain assignments of rights in hire purchase or conditional sale agreements, if the assignors could not themselves have used the scheme to sell the goods. By article 1(2), the Order does not affect sales on or after 1st July 2002 if the related assignment took place before that date.