Value Added Tax Act 1994

Notes: U.K.

(1) Item 1 does not include anything included in item 6.

[F1 (1A) Item 1 does not include a supply of services which is preparatory to the carrying out of a transaction falling within that item.]

(2) This Group does not include the supply of a coin or a banknote as a collectors’ piece or as an investment article.

F2 ( 2A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3 ( 2B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) Item 2 includes the supply of credit by a person, in connection with a supply of goods or services by him, for which a separate charge is made and disclosed to the recipient of the supply of goods or services.

(4) This Group includes any supply by a person carrying on a credit card, charge card or similar payment card operation made in connection with that operation to a person who accepts the card used in the operation when presented to him in payment for goods or services.

[F4 (5) For the purposes of item 5 “intermediary services” consist of bringing together, with a view to the provision of financial services—

(a) persons who are or may be seeking to receive financial services, and

(b) persons who provide financial services,

together with (in the case of financial services falling within item 1, 2, 3 or 4) the performance of work preparatory to the conclusion of contracts for the provision of those financial services, but do not include the supply of any market research, product design, advertising, promotional or similar services or the collection, collation and provision of information in connection with such activities.

(5A) For the purposes of item 5 a person is “acting in an intermediary capacity” wherever he is acting as an intermediary, or one of the intermediaries, between—

(a) a person who provides financial services, and

(b) a person who is or may be seeking to receive financial services

F5 ...

(5B) For the purposes of notes 5 and 5A “financial services” means the carrying out of any transaction falling within item 1, 2, 3, 4 or 6.]

[F6 (6) In item 9—

• “authorised unit trust scheme” has the meaning given in section 237(3) of the Financial Services and Markets Act 2000;

• F7 ...

• “trust based scheme” means a scheme the purpose or effect of which is to enable persons taking part in the scheme, by becoming beneficiaries under a trust, to participate in or receive profits or income arising from the acquisition, holding, management or disposal of property of a kind described in section 239(3)(a) of the Financial Services and Markets Act 2000 or sums paid out of such profits or income.]

F8 [F9 (7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8) For the purposes of item 10 F10 ..., an open-ended investment company’s scheme property is the property subject to the collective investment scheme constituted by that company.

F11 (9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F12 (10) For the purposes of this Group—

• “ collective investment scheme” has the meaning given in section 235 of the Financial Services and Markets Act 2000; and

• “open-ended investment company”has the meaning given in section 236 of that Act.]]

Textual Amendments

F1 Sch. 9 Pt. II Group 5 Note (1A) inserted (10.3.1999) by S.I. 1999/594, art. 5

F2 Sch. 9 Pt. II Group 5 Note (2A) omitted (with application in accordance with art. 1 of the amending S.I.) by virtue of Value Added Tax (Finance) (No.2) Order 2003 (S.I. 2003/1569), art. 2(d)

F3 Sch. 9 Pt. II Group 5 Note (2B) omitted (with application in accordance with art. 1 of the amending S.I.) by virtue of Value Added Tax (Finance) Order 2003 (S.I. 2003/1568), art. 2

F4 Sch. 9 Pt. II Group 5 Notes (5)(5A)(5B) substituted (10.3.1999) for Note (5) by S.I. 1999/594, art. 7

F5 Words in Sch. 9 Pt. II Group 5 Note (5A) omitted (with application in accordance with art. 1 of the amending S.I.) by virtue of Value Added Tax (Finance) (No.2) Order 2003 (S.I. 2003/1569), art. 2(e)

F6 Sch. 9 Group 5 Note (6) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 348(2)

F7 Words in Sch. 9 Pt. 2 Group 5 Note (6) omitted (with application in accordance with art. 1 of the amending S.I.) by virtue of Value Added Tax (Finance) (No.2) Order 2003 (S.I. 2003/1569), art. 2(f)

F8 Sch. 9 Pt. II Group 5 Note (7) omitted (with application in accordance with art. 1 of the amending S.I.) by virtue of Value Added Tax (Finance) (No.2) Order 2003 (S.I. 2003/1569), art. 2(g)

F9 Sch. 9 Pt. II Group 5 Notes (7)-(10) added (24.3.1997) by S.I. 1997/510, arts. 1, 2(b)

F10 Words in Sch. 9 Pt. 2 Group 5 Note (8) omitted (with application in accordance with art. 1 of the amending S.I.) by virtue of Value Added Tax (Finance) (No.2) Order 2003 (S.I. 2003/1569), art. 2(h)

F11 Sch. 9 Pt. II Group 5 Note (9) omitted (with application in accordance with art. 1 of the amending S.I.) by virtue of Value Added Tax (Finance) (No.2) Order 2003 (S.I. 2003/1569), art. 2(i)

F12 Sch. 9 Group 5 Note (10) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 348(3)