In subsection (1)(a) of section 36 of the Value Added Tax Act 1994 (bad debts), the words "for a consideration in money" shall be omitted.
In subsection (3) of that section—
in paragraph (a), for "payment by way" there shall be substituted ; and" part "
in paragraph (b), for "a payment or payments by way" there shall be substituted and for "the payment (or the aggregate of the payments)" there shall be substituted ." any part "" that part "
After that subsection there shall be inserted the following subsection—
In subsection (5) of that section—
in paragraph (c), for "subsequent payments" there shall be substituted ; and" anything subsequently received "
in paragraph (e), for "payment (or further payment) by way" there shall be substituted ." part (or further part) "
In subsection (6) of that section, in paragraphs (b) and (c) for "a payment" there shall in each place be substituted ." anything received "
In subsection (7) of that section, for "part payment" there shall be substituted ." receipt of part of the consideration "
Subsections (1) to (3) above have effect in relation to claims made on or after the day on which this Act is passed.