SCHEDULES

F1SCHEDULE 10AFace-value vouchers

Annotations:
Amendments (Textual)
F1

Sch. 10A inserted (with application in accordance with Sch. 1 para. 4 of the amending Act) by Finance Act 2003 (c. 14), Sch. 1 para. 2

Interpretation

8

1

In this Schedule—

  • “credit voucher” has the meaning given by paragraph 3(1) above;

  • “face value” has the meaning given by paragraph 1(2) above;

  • “face value voucher” has the meaning given by paragraph 1(1) above;

  • “retailer voucher” has the meaning given by paragraph 4(1) above.

2

For the purposes of this Schedule—

a

the “rate categories” of supplies are—

i

supplies chargeable at the rate in force under section 2(1) (standard rate),

ii

supplies chargeable at the rate in force under section 29A (reduced rate),

iii

zero-rated supplies, and

iv

exempt supplies and other supplies that are not taxable supplies;

b

the “non-standard rate categories” of supplies are those in sub-paragraphs (ii), (iii) and (iv) of paragraph (a) above;

c

goods or services are in a particular rate category if a supply of those goods or services falls in that category.

3

A reference in this Schedule to a voucher being used to obtain goods or services includes a reference to the case where it is used as part-payment for those goods or services.