Value Added Tax Act 1994 section 33

Increase or decrease in consideration for a supply: cases outside Article 61 of the Implementing Regulation

Section 33 deals with what happens when the price of a UK supply changes after the deadline for amending the original OSS scheme return or non-UK return has passed, and sets out the obligations to notify HMRC and settle any resulting VAT difference.

• Where the consideration for a UK supply changes after the return amendment window under Article 61 of the Implementing Regulation has closed, the supplier must notify HMRC of the required adjustment in the tax period in which the change is reflected in their business accounts.
• If the consideration increases, the supplier must pay HMRC the difference between the VAT originally chargeable and the VAT now due on the full increased amount.
• If the consideration decreases, the notification acts as a repayment claim, and HMRC must refund any VAT that was overpaid compared with what would have been due at the lower price.
• HMRC may make regulations specifying deadlines, forms, and methods for submitting notifications, claims, and payments under this provision.