http://www.legislation.gov.uk/uksi/1973/173/article/1

The Value Added Tax (Terminal Markets) Order 1973

Westlaw

VALUE ADDED TAX

Statute Law Database

2023-03-02

Expert Participation

1973-04-01

This Order zero-rates certain supplies of goods and services in the course of dealings on the terminal markets listed in Article 2(2) of the Order, which involve goods ordinarily dealt with on the market. Supplies which are zero-rated are futures transactions (including options) not resulting in a delivery of goods, provided they are supplies by or to a member of one of the markets; and sales of physical goods between members of one market subject to certain conditions laid down in Article 3(2)(b). The Order also zero-rates the services of any market member acting as a broker in connection with any of these supplies.