Schedule 10, Part 1, paragraph 19(2)
VATA 1994
Value Added Tax Act 1994 · United Kingdom
But if, when an option to tax is exercised, the person exercising the option intends to revoke it in accordance with paragraph 23 (revocation of option: the “cooling off” period), the option is treated for the purposes of this Act as if it had never been exercised.
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Source: legislation.gov.uk · retrieved 2026-07-28