SCHEDULES

[F1 SCHEDULE 10B U.K.VAT treatment of vouchers issued on or after 1 January 2019

Textual Amendments

F1 Sch. 10B inserted (12.2.2019) by Finance Act 2019 (c. 1), Sch. 17 para. 5

Composite transactions U.K.

11 (1) This paragraph applies where, as part of a composite transaction— U.K.

(a) goods or services are supplied to a person, and

(b) a voucher is issued or transferred to that person.

(2) If the total consideration for the transaction is not different, or not significantly different, from what it would be if the voucher were not issued or transferred, the paragraph 3 supply is to be treated as being made for no consideration.]