Value Added Tax Act 1994 section 15

Power to vary specified sums by order

Section 15 of Schedule 1 gives the Treasury the power to increase any of the monetary thresholds specified in the schedule by order.

• The Treasury may change any of the monetary amounts set out in Schedule 1
• Changes are made by statutory order rather than requiring primary legislation
• The Treasury may only replace existing figures with higher amounts, not lower ones
• This power is typically used to update the VAT registration and deregistration thresholds