SCHEDULES
SCHEDULE 9 Exemptions
C1Part II The Groups
F5GROUP 15—INVESTMENT GOLD
Sch. 9 Pt. 2 Group 15 added (1.1.2000) by S.I. 1999/3116, art. 2(3)
F1 1 Item No.
The supply of investment gold.
F2 2
The grant, assignment or surrender of any right, interest, or claim in, over or to investment gold if the right, interest or claim is or confers a right to the transfer of the possession of investment gold.
F3 3
The supply, by a person acting as agent for a disclosed principal, of services consisting of—
a
the effecting of a supply falling within item 1 or 2 that is made by or to his principal, or
b
attempting to effect a supply falling within item 1 or 2 that is intended to be made by or to his principal but is not in fact made.
F4Notes:
1
For the purposes of this Group “investment gold” means—
a
gold of a purity not less than 995 thousandths that is in the form of a bar, or a wafer, of a weight accepted by the bullion markets;
b
a gold coin minted after 1800 that—
i
is of a purity of not less than 900 thousandths,
ii
is, or has been, legal tender in its country of origin, and
iii
is of a description of coin that is normally sold at a price that does not exceed 180% of the open market value of the gold contained in the coin; or
c
a gold coin of a description specified in a notice that has been published by the Commissioners for the purposes of this Group and has not been withdrawn.
2
A notice under Note (1)(c) may provide that a description specified in the notice has effect only for the purposes of supplies made at times falling within a period specified in the notice.
3
Item 2 does not include—
a
the grant of an option, or
b
the assignment or surrender of a right under an option at a time before the option is exercised.
4
This Group does not include a supply—
a
between members of the London Bullion Market Association, or
b
by a member of that Association to a taxable person who is not a member or by such a person to a member.
Sch. 9 Pt. 2 applied by S.I. 1995/2518, reg. 84(5) (as substituted (with effect in accordance with reg. 1(3) of the amending S.I.) by Value Added Tax (Amendment) (No.2) Regulations 2003 (S.I. 2003/1069), regs. 1(1), 9)